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Code · Maryland · Insurance

§ 26-502

116 words·~1 min read·/md/insurance/26-502

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§26–502.
(a)A person that willfully violates this title is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000 or imprisonment not exceeding 1 year or both.
(b)In addition to any other penalty provided in this title, the Commissioner after notice and hearing may impose on a licensee or representative for each violation of this title a penalty:
(1)not exceeding $25,000 for a licensee; or
(2)not exceeding $5,000 for a representative.
(c)Instead of or in addition to a penalty imposed under this section, the Commissioner may require that restitution be made to any citizen who has suffered financial injury because of a violation of this title.
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