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This entry was published on 2014-09-22
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SECTION 4241
Penalty for violation of filing requirements
Insurance (ISC) CHAPTER 28, ARTICLE 42
§ 4241. Penalty for violation of filing requirements. (a) Any
authorized insurer, representative of such insurer, licensed insurance
agent or licensed insurance broker wilfully violating any of the
provisions of this article or of articles thirty-one or thirty-two of
this chapter relating to filings of life, accident and health and
annuity contract forms, premium rates, rules, classification of risks,
and commissions, compensation or other fees or allowances to agents and
brokers pertaining to the solicitation or sale of such insurance and of
fees or allowances to any individuals, firms or corporations for
services pertaining to the service or administration of such group
insurance and annuity contracts, shall, in addition to any other penalty
provided by law, be liable for a penalty as provided in subsection (b)
hereof.

(b) If the superintendent finds after notice and hearing, that any
authorized insurer, representative of such insurer, licensed insurance
agent or licensed insurance broker has wilfully violated the provisions
of subsection (d) hereof or this article relating to such filings, he
may, in lieu of any other penalty provided by law, order such insurer,
or person to pay to the people of this state a penalty not exceeding one
thousand dollars for each such offense.

(c) Failure of any such insurer or person to pay such penalty within
thirty days after the making of such order, unless suspended by an order
of a court of competent jurisdiction, shall constitute a violation of
this chapter.

(d) In this section, the issuance, procurement or negotiation of each
policy of insurance, by such insurer or person in wilful violation of
the provisions of this subsection or this article shall be deemed a
separate offense.