40-2,135. Same; sanctions for violations; rights of policyholders, claimants and auditors not restricted. - Kansas Statutes

40-2,135

Chapter 40.--INSURANCE Article 2.--GENERAL PROVISIONS

      40-2,135.   Same; sanctions for violations; rights ofpolicyholders,claimants and auditors not restricted.(a) If the commissioner finds after a hearing conducted in accordance with theKansas administrative procedure act that any personhas violated any provision of this act, the commissioner may order each ofthe following, any combination thereof or all of the following:

      (1)   For each separate violation, a penalty in an amount of $5,000;

      (2)   revocation or suspension of the agent's or broker's license;

      (3)   the MGA to reimburse the insurer, the rehabilitator or liquidator ofthe insurer for any losses incurred by the insurer caused by a violation ofthis act committed by the MGA.

      (b)   Nothing contained in this act is intended to or shall in any mannerlimit or restrict the rights of policyholders, claimants and auditors.

      History:   L. 1990, ch. 158, § 7;L. 1994, ch. 47, § 2; July 1.