58-30-133. Penalties for violation by managing general agent.
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/sd/title-58/chapter-58-30/58-30-133·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the director finds after hearing that any person has violated any provision of §§ 58-30-124 to 58-30-139 , inclusive, the director may order one or all of the following:
(1)For each separate violation, a penalty in an amount of not more than twenty - five thousand dollars;
(2)Revocation or suspension of the license or authority; or
(3)The managing general agent to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of §§ 58-30-124 to 58-30-139 , inclusive, committed by the managing general agent.
Nothing contained in this section affects the right of the director to impose any other penalties provided for in the insurance law.