California Insurance Code

§ 1781.11

INS § 1781.11Div. 1 · Part 2 · Ch. 6.5

Statute text

(a)A reinsurance intermediary, insurer, or reinsurer found by the commissioner to be in violation of this chapter, after a hearing conducted in accordance with Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code by an administrative law judge either chosen under Section 11502 of the Government Code or appointed by the commissioner, shall be subject to all of the following:

(1)For each separate violation, a penalty in an amount not exceeding five thousand dollars ($5,000).

(2)Be subject to revocation or suspension of its license or certificate of authority.

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Legislative history

Added by Stats. 1991, Ch. 1009, Sec. 1.