2011 Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 16: PRODUCERS, ADJUSTERS AND CONSULTANTS
24-A §1497. Penalties and liabilities

Subchapter 8: MANAGING GENERAL AGENTS HEADING: PL 1997, C. 573, §1 (NEW)

§1497. Penalties and liabilities

1. Penalties. If the superintendent finds after a hearing conducted in accordance with section 229 that any person has violated any provision of this subchapter, the superintendent may order:

A. For each separate violation, any penalty provided for by section 12-A; [1997, c. 573, §1 (NEW); 1997, c. 573, §2 (AFF).]

B. Revocation or suspension of the producer's license or the insurer's certificate of authority; and [1997, c. 573, §1 (NEW); 1997, c. 573, §2 (AFF).]

C. The MGA to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this subchapter committed by the MGA. [1997, c. 573, §1 (NEW); 1997, c. 573, §2 (AFF).]

[ 1997, c. 573, §1 (NEW); 1997, c. 573, §2 (AFF) .]

2. Effect of order. The decision, determination or order of the superintendent pursuant to subsection 1 is subject to judicial review as provided by section 236.

[ 1997, c. 573, §1 (NEW); 1997, c. 573, §2 (AFF) .]

3. Penalties. Nothing contained in this section affects the right of the superintendent to impose any other penalties provided for in this Title.

[ 1997, c. 573, §1 (NEW); 1997, c. 573, §2 (AFF) .]

4. Rights of others. Nothing contained in this subchapter limits or restricts the rights of policyholders, claimants and auditors.

[ 1997, c. 573, §1 (NEW); 1997, c. 573, §2 (AFF) .]

SECTION HISTORY

1997, c. 573, §1 (NEW). 1997, c. 573, §2 (AFF).