515F.19 Penalties. 1. The commissioner may, upon a finding that a person or organization has violated a provision of this chapter, impose a civil penalty of not more than ten thousand dollars foreach violation, but if the violation is found to be willful, a penalty of not more than twenty-fivethousand dollars may be imposed for each violation. a. The civil penalties may be in addition to any other penalty provided by law.b. For purposes of this section, an insurer using a rate for which the insurer has failed to file the rate, supplementary rate information, underwriting rules or guides, or supportinginformation as required by this chapter, has committed a separate violation for each day thefailure continues. 2. a. The commissioner may suspend or revoke the license of an advisory organization or insurer which fails to comply with an order of the commissioner within the time limit setby the order, or an extension of the order. b. The commissioner may determine when a suspension of license becomes effective and it shall remain in effect for the period fixed by the commissioner, unless the commissionermodifies or rescinds the suspension, or until the order upon which the suspension ense becomes effective and it shall remain in effect for the period fixed by the commissioner, unless the commissionermodifies or rescinds the suspension, or until the order upon which the suspension is based ismodified, rescinded, or reversed. 3. A penalty shall not be imposed and a license shall not be suspended or revoked except upon a written order of the commissioner stating the commissioner’s findings, made afterhearing. 4. A penalty collected under this section shall be deposited as provided in section 505.7.90 Acts, ch 1234, §63; 2009 Acts, ch 181, §81Referred to in §515F.16, 515F.23 Sat Dec 23 00:48:57 2023 Iowa Code 2024, Section 515F.19 (21, 0)
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