Sec. 2670.
(1) Subject to subsection (3), the commissioner may, if he or she finds that any person or organization has violated any provision of this chapter, impose a civil fine of not more than $300.00 for each violation, but if the commissioner finds the violation to be wilful, the commissioner may impose a civil fine of not more than $1,500.00 for each violation. Civil fines imposed under this subsection may be in addition to any other penalty provided by law. A fine collected under this subsection shall be turned over to the state treasurer and credited to the general fund of the state.
(2) The commissioner may suspend the license of any rating organization or insurer which fails to comply with an order of the commissioner within the time specified by the order, or any extension of the order which the commissioner may grant. The commissioner shall not suspend the license of any rating organization or insurer for failure to comply with an order until the time prescribed for an appeal from the order has expired or if an appeal has been taken, until the order has been affirmed. The commissioner may determine when a suspension of license shall become effective, and the suspension shall remain in effect for the period fixed by the commissioner, unless he or she modifies or rescinds the suspension, or until the order upon which the suspension is based is modified, rescinded, or reversed.
(3) A civil fine shall not be imposed and a license shall not be suspended or revoked except upon a written order of the commissioner, specifying the alleged violation and stating his or her findings, made after a hearing held upon not less than 10 days' written notice to the person or organization. An order issued by the commissioner pursuant to this section shall not require the payment of civil fines exceeding $10,000.00.
History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1984, Act 7, Imd. Eff. Feb. 1, 1984 Popular Name: Act 218
Structure Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)
218-1956-26 - Chapter 26 Fire and Inland Marine Rates (500.2600...500.2674)
Section 500.2600 - Purpose of Chapter; Construction.
Section 500.2601 - Scope of Chapter.
Section 500.2603 - Rate-Making Provisions; Uniformity.
Section 500.2604 - Expired. 1980, Act 461, Eff. Dec. 31, 1980.
Section 500.2610 - Filing Requirements; Modification or Suspension by Insurance Commissioner.
Section 500.2612 - Rate Filings; Adherence by Insurer.
Section 500.2614 - Rate Organization; Excess Rates on Specific Risks.
Section 500.2618 - Failure of Filing to Meet Requirements; Procedure.
Section 500.2630 - Rating Organization; License Application, Contents.
Section 500.2646 - Rating Organizations; Deviation, Procedure, Termination of Deviation.
Section 500.2648 - Rating Organizations; Alternative Methods for Deviation.
Section 500.2650 - Rating Organizations; Member or Subscriber, Appeal to Insurance Commissioner.
Section 500.2652 - Rating Organization and Insurer; Rating Information to Insured, Hearing; Appeal.
Section 500.2658 - Joint Underwriting or Reinsurance; Unfair Activities.
Section 500.2662 - Examination of Rating Advisory Organizations; Report.
Section 500.2664 - Statistical Plans; Exchange of Data, Consultation.
Section 500.2666 - Withholding Information, False or Misleading Information; Penalties.
Section 500.2674 - Insurance Commissioner; Regulatory Powers.