(1) The Commissioner may revoke the license as insurance consultant for any violation of this chapter and for any of the reasons for which a license as producer may be revoked as provided in § 953f of this title.(2) Any person who acts as insurance consultant, as defined in § 949g of this title, without holding a license for doing so or during the period in which the same was suspended or revoked shall be subject to a fine of not less than five hundred dollars ($500) nor of more than five thousand dollars ($5,000) or to a term of imprisonment of not more than six (6) months, or both penalties for each violation. History —Ins. Code, added as § 9.242 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
Puerto Rico Legal Code