Louisiana Revised Statutes 22:1970 – A. Any person who violates a cease and desist order of the commissioner under R.S. 22:1969 and while such order is in effect may, after compliance with R.S. 49:977.3 be subject at th
Terms Used In Louisiana Revised Statutes 22:1970
- certificate: means any contract of insurance, indemnity, medical, health or hospital service, suretyship, or annuity issued, proposed for issuance, or intended for issuance by any insurer. See Louisiana Revised Statutes 22:1962
- Commissioner: means the commissioner of insurance of this state. See Louisiana Revised Statutes 22:1962
- Person: means any natural or artificial entity, including but not limited to individuals, partnerships, associations, trusts, or corporations. See Louisiana Revised Statutes 22:1962
A. Any person who violates a cease and desist order of the commissioner under La. Rev. Stat. 22:1969 and while such order is in effect may, after compliance with La. Rev. Stat. 49:977.3 be subject at the discretion of the commissioner to any one or more of the following:
(1) A monetary penalty of not more than twenty-five thousand dollars for each and every act or violation, not to exceed an aggregate of two hundred fifty thousand dollars.
(2) Suspension or revocation of such person’s license or certificate of authority.
B. An aggrieved party affected by the commissioner’s decision, act, or order may demand a hearing in accordance with Chapter 12 of this Title, La. Rev. Stat. 22:2191 et seq.
Acts 1989, No. 638, §1; Acts 1993, No. 953, §1; Redesignated from La. Rev. Stat. 22:1217.1 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009, Acts 2009, No. 317, §1.