402-E:6 Penalties and Liabilities. –
I. If the commissioner finds after notice and hearing that any person has violated any provision of this chapter, or rules adopted pursuant to this chapter, the commissioner may order:
(a) For each separate violation, a penalty in an amount of $2,500.
(b) Revocation or suspension of the producer's license.
(c) The MGA to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this chapter committed by the MGA.
(d) Any other applicable penalty provided for in the insurance law.
I-a. Any person who shall practice or attempt to practice as an MGA in this state without a license shall be guilty of a class A misdemeanor if a natural person, or guilty of a felony if any other person.
II. Nothing contained in this chapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants and auditors.