Alaska Statutes (Last Updated: January 11, 2017) |
Title 21. INSURANCE. |
Chapter 21.34. SURPLUS LINES INSURANCE. |
Section 21.34.230. Penalties.
Latest version.
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(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 licensee in regard to each violation; and
(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.
(b) A violation of this chapter is cause for denial, nonrenewal, suspension, or revocation of a license.
Authorities
21.34.100
Notes
References
AS 21.34.100 Evidence of insurance.
History
(Sec. 21 ch 117 SLA 1984; am Sec. 136 ch 67 SLA 1992)