Vermont § 4706 - Penalties
Full text of Vermont Vermont Statutes Online § 4706 — Penalties, with citation guidance and answers to common questions.
§ 4706. Penalties
- (a) If the Commissioner finds that any person, insurer, or advisory or service organization
has violated any provision of this chapter, the Commissioner may impose an administrative
penalty of not more than $2,000.00 for each violation; but if the Commissioner finds
such violation to be willful, a penalty of not more than $15,000.00 for each such
violation may be imposed. (b) Unintentional technical violations arising from systems or computer generated errors
or failures of the same type shall be treated as a single violation for the purposes
of this section. In the event of resulting overcharges that are de minimis, the insurer
shall make financial restitution, including payment of interest, as determined by
the Commissioner and no penalty shall be imposed under this chapter, provided that
the insurer demonstrates to the satisfaction of the Commissioner that the violation
was unintentional. (c) For purposes of this section, any insurer using a premium or rate for which the insurer
has failed to submit a filing pursuant to section 4687 or 4688 of this title shall have committed a separate violation for each day such failure existed. (d) The Commissioner may suspend or revoke the license of any advisory or service organization
or insurer failing or refusing to comply with an order of the Commissioner within
the time limit prescribed by such order or any extension thereof that the Commissioner
may grant. (e) The Commissioner may determine when a suspension of license shall become effective,
and it shall remain in effect for the period fixed by the Commissioner, including
an indefinite period, unless such suspension is modified or rescinded or until the
order upon which such suspension is based is modified, rescinded, or reversed. (f) No penalty shall be imposed and no license shall be suspended or revoked except upon
a written order of the Commissioner, stating the findings made after a hearing. (g) The penalties applicable under this section are in addition to any other penalties
applicable under this title. (Added 1983, No. 238 (Adj. Sess.), § 1; amended 1995, No. 167 (Adj. Sess.), § 18.)
Frequently Asked Questions About Vermont § 4706
What does Vermont Statutes Online § 4706 cover?
Section 4706 ("Penalties") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 4706?
A common citation format is "Vermont Statutes Online § 4706" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 4706 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.