§15-141.12. Fine in lieu of suspension or revocation.
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/ok/title-15-contracts/15-141-12·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the Insurance Commissioner finds that one or more grounds exist for the discretionary revocation or suspension of a certificate of authority issued under the Service Warranty Act, the Commissioner may, in lieu of such suspension or revocation, impose a fine upon the insurer or service warranty association in an amount not to exceed One Thousand Dollars ($1,000.00) per violation; however, if it is found that an insurer or service warranty association has knowingly and willfully violated a lawful rule or order of the Commissioner or any provision of the Service Warranty Act, the Commissioner may impose a fine upon the insurer or association in an amount not to exceed Ten Thousand Dollars ($10,000.00) for each violation.
Added by Laws 2012, c. 150, § 12, eff. Nov. 1, 2012.