NAC679B.750. Penalties.

     1. If the Commissioner determines that there has been a knowing violation of NAC 679B.675 to 679B.730, inclusive, he or she may:

     (a) Issue a cease and desist order following notice and a hearing on the violation.

     (b) Order payment of a monetary penalty of not more than $2,000 for each violation.

     2. Any person who knowingly violates a cease and desist order of the Commissioner will be subject to one or more of the following penalties, at the discretion of the Commissioner:

     (a) A monetary fine of not more than $2,000 for each violation;

     (b) A monetary fine of not more than $2,000 if the Commissioner finds that violations have occurred often enough to constitute a general business practice; or

     (c) Suspension or revocation of an insurance institution’s or agent’s license.

     (Added to NAC by Comm’r of Insurance, 10-4-88, eff. 1-1-89)