A penalty imposed under this section must be the greater of:(1) three (3) times the amount of the commissions paid for each policy involved in the violation; or(2) ten thousand dollars ($10,000).(b) In addition to any other sanction provided under this title, the commissioner may impose a penalty against an insurance producer who has violated this chapter or rules adopted under this chapter. The penalty must be the greater of:(1) up to three (3) times the amount of the commissions paid to that insurance producer for each policy involved in the violation; or(2) twenty-five hundred dollars ($2,500).As added by P.L.114-1991, SEC.21. Amended by P.L.178-2003, SEC.68.
Indiana Legal Code