The Insurance Commissioner shall promulgate rules necessary to enforce the provisions of Section 140.2 et seq. of this title. After proper notice and opportunity for hearing the Commissioner may take either or both of the following actions: 1. Order the creditor, provider, administrator, or any other person not in compliance with Section 140.2 et seq. of this title to cease and desist from product related operations which are in violation of Section 140.2 et seq. of this title; or2. Impose a penalty not to exceed Five Hundred Dollars ($500.00) per violation and no more than Ten Thousand Dollars ($10,000.00) for aggregated violations of a similar nature. For purposes of this section, 'violations of a similar nature' means the violation consisted of the same or similar course of conduct, action, or practice, irrespective of the number of times the action, conduct, or practice which is determined to be a violation of Section 140.2 et seq. of this title occurred.Added by Laws 2022, c. 16, § 5, eff. Nov. 1, 2022. Amended by Laws 2024, c. 225, § 3, eff. Nov. 1, 2024.
Oklahoma Legal Code