California Insurance Code

§ 10140.5

INS § 10140.5 Effective Jan 1, 1996Div. 2 · Part 2 · Ch. 1 · Art. 2.5

Statute text

(a)In addition to any other remedy permitted by law, the commissioner shall have the administrative authority to assess penalties specified in this section against life or disability insurers for violations of Section 10140.

(b)Any life or disability insurer that violates Section 10140 is liable for administrative penalties of not more than two thousand five hundred dollars ($2,500) for the first violation and not more than five thousand dollars ($5,000) for each subsequent violation.

(c)Any life or disability insurer that violates Section 10140 with a frequency that indicates a general business practice or commits a knowing violation of that section, is liable for administrative penalties of not less than fifteen thousand dollars ($15,000) and not more than one hundred thousand dollars ($100,000) for each violation.

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Legislative history

Added by Stats. 1995, Ch. 695, Sec. 9. Effective January 1, 1996.