Oklahoma § 15-141.12 - Fine in lieu of suspension or revocation

§ 15-141.12. Fine in lieu of suspension or revocation

If the Insurance Commissioner finds that one or more grounds

exist for the discretionary revocation or suspension of a

certificate of authority issued under the Service Warranty Act, the

Commissioner may, in lieu of such suspension or revocation, impose a

fine upon the insurer or service warranty association in an amount

not to exceed One Thousand Dollars ($1,000.00) per violation;

however, if it is found that an insurer or service warranty

association has knowingly and willfully violated a lawful rule or

order of the Commissioner or any provision of the Service Warranty

Act, the Commissioner may impose a fine upon the insurer or

association in an amount not to exceed Ten Thousand Dollars

($10,000.00) for each violation.

Added by Laws 2012, c. 150, § 12, eff. Nov. 1, 2012.