(a) If the Insurance Commissioner, after a hearing conducted according to § 23-61-301 et seq., finds that an insurer or a person has violated this subchapter, the commissioner may order:
(1) For each separate violation, a penalty of one thousand dollars ($1,000) or if the commissioner has found willful misconduct or willful violation, a penalty of five thousand dollars ($5,000); and
(2) Revocation or suspension of the insurer's or person's license.
(b) The decision of the commissioner under subsection (a) of this section is subject to judicial review under § 23-61-307.
(c) This section does not affect the right of the commissioner to impose other penalties provided for in the insurance laws.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 63 - Insurance Companies Generally
Subchapter 13 - Risk-Based Capital Act
§ 23-63-1304. Company action level event — Definition
§ 23-63-1305. Regulatory action level event
§ 23-63-1306. Authorized control level event
§ 23-63-1307. Mandatory control level event — Definition
§ 23-63-1309. Confidentiality — Prohibition on announcements — Prohibition on use in ratemaking
§ 23-63-1310. Supplemental provisions — Rules — Exemption
§ 23-63-1311. Foreign insurers
§ 23-63-1313. Authority of commissioner to adopt rules