Section 518-A. Violations.--(a) A person or organization shall not wilfully withhold information affecting the rates or premiums chargeable under this article from or knowingly give false or misleading information to the commissioner, a statistical agency designated by the commissioner or an advisory organization. A violation of this section shall be punishable under subsection (b).
(b) Upon satisfactory evidence of a violation of any section of this article by any person or insurer, one (1) or more of the following penalties may be imposed at the commissioner's discretion:
(1) Suspension or revocation of a license.
(2) Refusal for a period not to exceed one (1) year to issue a new license to the offending insurer or other persons.
(3) A fine of not more than five thousand dollars ($5,000) for a violation of this article.
(4) A fine of not more than ten thousand dollars ($10,000) for a wilful violation of this article.
(5) A fine of not more than ten thousand dollars ($10,000) for a violation of subsection (a).
(6) A fine of not more than twenty-five thousand dollars ($25,000) for a wilful violation of section 516-A.
(c) Fines imposed against an individual insurer under this article shall not exceed five hundred thousand dollars ($500,000) in the aggregate during a single calendar year.
(518-A added Dec. 21, 1998, P.L.1108, No.150)