There Is a Newer Version of the New York Consolidated Laws
2012 New York Consolidated Laws
ISC - Insurance
Article 21 - (2101 - 2137) AGENTS, BROKERS, ADJUSTERS, CONSULTANTS AND INTERMEDIARIES
2127 - Penalties for violations.
NY Ins L § 2127 (2012) What's This?
§ 2127. Penalties for violations. (a) The superintendent, in lieu of
revoking or suspending the license of a licensee in accordance with the
provisions of this article, may in any one proceeding by order, require
the licensee to pay to the people of this state a penalty in a sum not
exceeding five hundred dollars for each offense, and a penalty in a sum
not exceeding twenty-five hundred dollars in the aggregate for all
offenses.
(b) Upon the failure of such a licensee to pay such penalty ordered
pursuant to subsection (a) hereof within twenty days after the mailing
of such order, postage prepaid, registered, and addressed to the last
known place of business of such licensee, unless such order is stayed by
an order of a court of competent jurisdiction, the superintendent may
revoke the license of such licensee or may suspend the same for such
period as he determines.
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