Maryland Insurance Section 23-208

      (a)      Subject to the hearing provisions of Title 2 of this article, the Commissioner may deny a registration to an applicant or suspend, revoke, or refuse to renew the registration of a registrant if the Commissioner finds that the applicant or registrant has:

            (1)      failed to comply with a lawful requirement of the Commissioner under this title;

            (2)      violated a provision of this title;

            (3)      made a material misstatement in the application for registration;

            (4)      engaged in fraudulent or dishonest practices; or

            (5)      demonstrated incompetency or untrustworthiness to engage in the business of a premium finance company.

      (b)      (1)      Instead of or in addition to suspending, revoking, or refusing to renew a registration, the Commissioner may:

                  (i)      impose on the registrant, for a first or second offense, a penalty of not less than $25 but not exceeding $500; or

                  (ii)      require that restitution be made by a registrant that violates this title to a person that has suffered financial injury as a result of a violation of this title.

            (2)      For purposes of this subsection, restitution means the sum of money that, if paid to a person that suffers financial injury as a result of violation of this title, will restore the person to the same financial position the person would have been in had the violation not occurred.