Section 21.27.440. Penalties.

   (a) In addition to any other penalty provided by law, a person that the director determines under AS 21.06.170 - 21.06.240 has violated the provisions of this chapter is subject to
        (1) a civil penalty equal to the compensation promised, paid, or to be paid, directly or indirectly, to a person in regard to each violation;
        (2) either a civil penalty of not more than $10,000 for each violation or a civil penalty of not more than $25,000 for each violation if the director determines that the person wilfully violated the provisions of this chapter; and
        (3) denial, nonrenewal, suspension, or revocation of a license.
   (b) An order issued by the director that levies a civil penalty shall specify the time period within which the civil penalty must be fully paid. The period may not be less than 15 days or more than one year after the date of the order. Upon failure to pay a civil penalty when due, the director shall revoke, without further hearing, all licenses of the licensee not already revoked.

Authorities

21.27.030;21.27.040;21.27.110;21.27.140;21.27.570;21.27.620;21.27.650;21.27.690;21.27.760;21.27.840

Notes

References

AS 21.27.030 Controlled business disqualification.
AS 21.27.040 Application for license.
AS 21.27.110 Term of appointment.
AS 21.27.140 Firm licenses.
AS 21.27.570 Operating requirements for controlling insurance producers.
AS 21.27.620 Operating requirements for managing general agents; actions for loss.
AS 21.27.650 Operating requirements for third-party administrators.
AS 21.27.690 Operating requirements for reinsurance intermediary brokers; actions for loss.
AS 21.27.760 Operating requirements for reinsurance intermediary managers; actions for loss.
AS 21.27.840 Trainee independent adjusters.

History

(Sec. 1 ch 120 SLA 1966; am Sec. 7 ch 149 SLA 1984; am Sec. 28 ch 29 SLA 1987; am Sec. 91 ch 67 SLA 1992; am Sec. 25 ch 81 SLA 1997)