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- Alaska Statutes.
- Title 21. Insurance
- Chapter 27. Producers, Agents, Administrators, Brokers, Adjusters, and Managers
- Section 440. Penalties.
previous: Section 430
. Suspensions and Revocations.
next: Section 450
. Fine in Lieu of Action Against the License. [Repealed, Sec. 223 Ch 67 SLA 1992].
AS 21.27.440. Penalties.
- (a) In addition to any other penalty provided by law, a person that the director determines under AS 21.06.170
- 21.06.240 has violated the provisions of this
chapter is subject to
- (1) a civil penalty equal to the compensation promised, paid, or to be paid, directly or indirectly, to a person in regard
to each violation;
- (2) either a civil penalty of not more than $10,000 for each violation or a civil penalty of not more than $25,000 for
each violation if the director determines that the person wilfully violated the provisions of this chapter; and
- (3) denial, nonrenewal, suspension, or revocation of a license.
- (b) An order issued by the director that levies a civil penalty shall specify the time period within which the civil
penalty must be fully paid. The period may not be less than 15 days or more than one year after the date of the order.
Upon failure to pay a civil penalty when due, the director shall revoke, without further hearing, all licenses of the
licensee not already revoked.
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