Maine Revised Statutes
Subchapter 8: MANAGING GENERAL AGENTS
24-A §1497. Penalties and liabilities

§1497. Penalties and liabilities
1.  Penalties.  If the superintendent finds after a hearing conducted in accordance with section 229 that any person has violated any provision of this subchapter, the superintendent may order:  
A. For each separate violation, any penalty provided for by section 12‑A;   [PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
B. Revocation or suspension of the producer's license or the insurer's certificate of authority; and   [PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
C. The MGA to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this subchapter committed by the MGA.   [PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
[PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
2.  Effect of order.  The decision, determination or order of the superintendent pursuant to subsection 1 is subject to judicial review as provided by section 236.  
[PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
3.  Penalties.  Nothing contained in this section affects the right of the superintendent to impose any other penalties provided for in this Title.  
[PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
4.  Rights of others.  Nothing contained in this subchapter limits or restricts the rights of policyholders, claimants and auditors.  
[PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
SECTION HISTORY
PL 1997, c. 573, §1 (NEW). PL 1997, c. 573, §2 (AFF).

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