Tennessee § 56-13-120 - Violations and penalties.

§ 56-13-120. Violations and penalties.

If, after providing notice consistent with the process established by § 4-5-320(c) and providing the opportunity for a contested case hearing held in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, part 3, the commissioner finds that any insurer, person, or entity required to be licensed, permitted, or authorized to transact the business of insurance under this chapter has violated any provision of this chapter or any rule or regulation authorized by this chapter, the commissioner may order: The insurer, person, or entity to cease and desist from engaging in the act or practice giving rise to the violation; Payment of a monetary penalty of not more than one thousand dollars ($1,000) for each violation, but not to exceed an aggregate penalty of one hundred thousand dollars ($100,000), unless the insurer, person, or entity knowingly violates a statute, rule or order, in which case the penalty shall not be more than twenty-five thousand dollars ($25,000) for each violation, not to exceed an aggregate penalty of two hundred fifty thousand dollars ($250,000). This subdivision (a)(2) shall not apply where a statute or rule specifically provides for other civil penalties for the violation. For purposes of this subdivision (a)(2), each day of continued violation shall constitute a separate violation; and The suspension or revocation of the insurer's, person's, or entity's license. Section 56-13-103(c)(3) applies to any action taken by the commissioner pursuant to this section. Acts 2011, ch. 468, § 1; 2019, ch. 452, § 6. Compiler's Notes. Former chapter 13, §§ 56-13-101 — 56-13-133 (Acts 1978, ch. 616, §§ 1-30; 1979, ch. 147, §§ 1-6; T.C.A., §§ 56-4501 — 56-4529; Acts 1981, ch. 299, §§ 1-15; 1982, ch. 645, §§ 1-3; 1982, ch. 706, §§ 2, 3; Acts 1983, ch. 85, § 2; Acts 1983, ch. 246, § 1; 1986, ch. 723, §§ 1-7; Acts 1987, ch. 298, §§ 1, 3; 1989, ch. 266, §§ 1-8; Acts 1989, ch. 591, §§ 1-6; Acts 1992, ch. 790, § 1; Acts 2005, ch. 499, § 25; 2010, ch. 848, § 2), concerning the Tennessee Captive Insurance Company Act, was repealed by Acts 2011, ch. 468, § 1, effective September 1, 2011. Amendments. The 2019 amendment added (b). Effective Dates. Acts 2019, ch. 452, § 12. May 22, 2019.