2011 Vermont Code
Title 08 Banking and Insurance
Chapter 85 LOAN SERVICERS
§ 2915 Penalties

§ 2915. Penalties

(a) The commissioner may:

(1) Impose an administrative penalty of not more than $10,000.00 for each violation upon any person who violates or participates in the violation of this chapter or any other section of applicable law or any lawful regulation, directive, or order issued thereunder; and

(2) Order any person to make restitution to any person for any violation of this chapter or any other section of applicable law.

(b) Each violation or failure to comply with any directive or order of the commissioner is a separate and distinct violation.

(c) It shall be a criminal offense, punishable by a fine of not more than $100,000.00 or not more than a year in prison, or both, for any person after receipt of an order directing the licensee to cease exercising any duties and powers of a licensee, and assessing an administrative penalty under the authority of this chapter, to perform such duties or exercise such powers of any licensee until the penalty has been satisfied or otherwise satisfactorily resolved between the parties, or the order is vacated by the commissioner or by a court of competent jurisdiction.

(d) The powers vested in the commissioner by this chapter shall be in addition to any other powers to enforce any penalties, fines, or forfeitures authorized by law with respect to the requirements set forth herein. (Added 2009, No. 96 (Adj. Sess.), { 1, eff. Jan. 1, 2011.)