Penalties for violation by managing general agent

If the director finds after hearing that any person has violated any provision of §§ 58-30-124 to 58-30-139 , inclusive, the director may order one or all of the following: (1) For each separate violation, a penalty in an amount of not more than twenty - five thousand dollars; (2) Revocation or suspension of the license or authority; or (3) The managing general agent to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of §§ 58-30-124 to 58-30-139 , inclusive, committed by the managing general agent. Nothing contained in this section affects the right of the director to impose any other penalties provided for in the insurance law. Source: SL 1992, ch 353 , § 10.