2022 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)
218-1956-20 - Chapter 20 Unfair and Prohibited Trade Practices and Frauds (500.2001...500.2093)
Section 500.2040 - Violation of Cease and Desist Order; Penalty; Stay; Contents of Cease and Desist Order.
Sec. 2040.
(1) A person who violates a cease and desist order of the director under this chapter while the order is in effect, after notice and an opportunity for a hearing and on order of the director, may be subject to any of the following:
(a) A monetary penalty of not more than $20,000.00 for each violation.
(b) Suspension or revocation of the person's license or certificate of authority.
(2) The filing of a petition for review does not stay enforcement under this section, but the director may grant, or the appropriate court may order, a stay on appropriate terms.
(3) A cease and desist order issued by the director under section 2043 must not contain fines or other penalties applicable to acts or omissions that occur before the date of the cease and desist order.
History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1976, Act 273, Eff. Apr. 1, 1977 ;-- Am. 2019, Act 21, Imd. Eff. June 11, 2019
Popular Name: Act 218
