23-66-211. Penalty for violation of cease and desist orders.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-66-211. Penalty for violation of cease and desist orders.

23-66-211. Penalty for violation of cease and desist orders. Any person who violates a cease and desist order of the Insurance Commissioner under § 23-66-210 while the order is in effect may, after notice and hearing upon order of the commissioner, be subject at the discretion of the commissioner to any one (1) or more of the following: (1) A monetary penalty of not more than ten thousand dollars ($10,000) for each and every act of violation; or (2) Suspension or revocation of that person's license.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-66-211

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.

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Arkansas Code — all titles (historical 2020) · legal_authorities

23-66-210. Cease and desist and penalty orders — Modifications.

23-66-210. Cease and desist and penalty orders — Modifications. (a) If after the hearing the Insurance Commissioner shall determine that the person charged has engaged in an unfair method of competition or an unfair or deceptive act or practice, the commissioner shall reduce his or her findings to writing and shall issue and cause to be served upon the person charged with the violation a copy of the findings and an order requiring the person to cease and desist from engaging in the method of competition, act, or practice, and, if the act or practice is a violation of § 23-66-206 or § 23-66-312, the commissioner may at his or her discretion order any one (1) or more of the following: (1) Payment of a monetary penalty of not more than one thousand dollars ($1,000) for each and every act or violation but not to exceed an aggregate penalty of ten thousand dollars ($10,000) unless the person knew or reasonably should have known he or she was in violation of this subchapter. In this case, the penalty shall be not more than five thousand dollars ($5,000) for each and every act or violation but in an amount not to exceed an aggregate penalty of fifty thousand dollars ($50,000) in any six-month period; or (2) Suspension or revocation of the person's license, if he or she knew or reasonably should have known he or she was in violation of this chapter. (b) Until the expiration of the time allowed under § 23-66-212(a) for filing a petition for review by appeal if no petition has been filed within the time or, if a petition for review has been filed within the time, then until the transcript of the record in the proceeding has been filed in the circuit court, as provided in § 23-66-212, the commissioner may at any time, upon such notice and in such manner as the commissioner

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-66-210

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-66-210. This identifies an authority to review, not proof of applicability.