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23-67-205. Penalties.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-67-205. Penalties.
(a) Whenever the Insurance Commissioner shall have reason to believe that any person has violated any provision of this chapter, he or she shall issue and serve upon the person a statement of the alleged violations and a notice of hearing as provided by § 23-67-221 [repealed].
(b) If, after a hearing, the commissioner determines that the person has violated a provision of this chapter, the commissioner shall issue a written order which, in his or her discretion, may do one (1) or more of the following:
(1) Revoke the certificate of authority of the insurer or the license of the advisory organization;
(2) Suspend the certificate of authority of the insurer or the license of the advisory organization; or
(3) Require the payment of a monetary penalty of not more than one thousand dollars ($1,000) for each violation or a penalty of not more than ten thousand dollars ($10,000) for each violation if the commissioner has found willful violations.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-67-205
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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Record provenance
Stable record: arkansas_code:legal_authorities:23-67-205
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: fad3a6b11087fad4d8645e4f39fbad4eb88219e69b560ac177d8c6d5e35e3ad7
Source location: content.xml paragraph 38796
Stored source content
23-67-205. Penalties.
(a) Whenever the Insurance Commissioner shall have reason to believe that any person has violated any provision of this chapter, he or she shall issue and serve upon the person a statement of the alleged violations and a notice of hearing as provided by § 23-67-221 [repealed].
(b) If, after a hearing, the commissioner determines that the person has violated a provision of this chapter, the commissioner shall issue a written order which, in his or her discretion, may do one (1) or more of the following:
(1) Revoke the certificate of authority of the insurer or the license of the advisory organization;
(2) Suspend the certificate of authority of the insurer or the license of the advisory organization; or
(3) Require the payment of a monetary penalty of not more than one thousand dollars ($1,000) for each violation or a penalty of not more than ten thousand dollars ($10,000) for each violation if the commissioner has found willful violations.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-67-221. [Repealed.]
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-67-221
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: repealed. The source passage cites 23-67-221. This identifies an authority to review, not proof of applicability.