2013 Mississippi Code
Title 83 - INSURANCE
Chapter 73 - PORTABLE ELECTRONICS INSURANCE [EFFECTIVE JANUARY 1, 2013]
§ 83-73-9 - Suspension or revocation of license [Effective January 1, 2013]
(1) If a vendor of portable electronics or its employee, subsidiary corporation or authorized representative violates any provision of this section, the commissioner may do any of the following:
(a) After notice and hearing, impose fines not to exceed One Thousand Dollars ($ 1,000.00) per violation or Thirty Thousand Dollars ($ 30,000.00) in the aggregate for such violations and such penalty shall be deposited into the special fund of the State Treasury designated as the "Insurance Department Fund."
(b) After notice and hearing, impose other penalties that the commissioner deems necessary and reasonable to carry out the purpose of this chapter, including, but not limited to:
(i) Suspending the privilege of transacting portable electronics insurance pursuant to this section at specific business locations where violations have occurred;
(ii) Suspending or revoking the ability of individual employees, subsidiary corporations or authorized representatives to act under the license; and
(iii) Placing on probation, suspending or revoking the license of the portable electronics insurance producer.
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