TITLE 33 INSURANCE

Section 47. Managing General Agents, 33-47-1 through 33-47-7.

ARTICLE 4 LIQUIDATION PROCEEDINGS

33-47-7. Violation of chapter; penalties.

1. If the Commissioner finds, after a hearing conducted in accordance with Chapter 2 of this title, that any person has violated any provision of this chapter, the Commissioner may order:
   1. For each separate violation, a penalty in an amount not to exceed $10,000.00;
   2. Revocation or suspension of the producer's license; and
   3. The managing general agent to reimburse the insurer or the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this chapter committed by the managing general agent.
2. The decision, determination, or order of the Commissioner pursuant to subsection (a) of this Code section shall be subject to judicial review as provided in Chapter 2 of this title.
3. Nothing contained in this Code section shall affect the right of the Commissioner to impose any other penalties provided for in this title.
4. Nothing contained in this chapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, and auditors.

(Code 1981, §33-47-7, enacted by Ga. L. 1991, p. 1424, § 8.)