W. Va. Code R. § 114-14-10

Current through Register Vol. XLI, No. 45, November 8, 2024

Section 114-14-10 - Penalty For Violation Of Any Provision Of This Regulation

Any person who fails to comply with any provision of this regulation shall, after notice and hearing, be found to be transacting insurance in an illegal, improper or unjust manner. The Commissioner may, pursuant to W. Va. Code §§ 33-3-11, 33-11-6, 33-11-7, 33-11-8 and 33-12-25, refuse to renew, or may revoke or suspend the license of any such person or, in lieu thereof, the Commissioner may, at his or her discretion, order such person to pay to the State of West Virginia a penalty in a sum not to exceed that imposed by said sections of said code, and the Commissioner may, pursuant to W. Va. Code § 33-2-11, order such person to discontinue such illegal, improper or unjust transaction of insurance and to adjust and pay obligations as they become due.