(a) If the Mayor determines that the managing general agent or any other person has not materially complied with this chapter, or any regulation or order promulgated thereunder, after notice and opportunity to be heard, the Mayor may order:
(1) For each separate violation, a penalty in an amount not exceeding $10,000, or not more than $25,000 for intentional violations;
(2) Revocation or suspension of the producer's license; and
(3) If it was found that because of material noncompliance the insurer has suffered any loss or damage, the Commissioner may maintain a civil action brought by or on behalf of the insurer and its policyholders and creditors for recovery of compensatory damages for the benefit of the insurer and its policyholders and creditors, or other appropriate relief.
(b) The decision, determination, or order of the Mayor pursuant to subsection (a) of this section shall be subject to judicial review pursuant to subchapter I of Chapter 5 of Title 2, §§ 31-2502.43 and 31-2502.44, and §§ 31-4327 and 31-4332.
(c) Nothing in this section shall affect the right of the Mayor to impose any other penalties provided in the insurance law of the District.
(d) Nothing in this chapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, and auditors.
CREDIT(S)
(Oct. 21, 1993, D.C. Law 10-41, § 7, 40 DCR 6014; Apr. 26, 1994, D.C. Law 10-103, § 5, 41 DCR 1005.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 35-3006.
Temporary Amendments of Section
For temporary (225 day) amendment of section, see § 5(a) of Insurance Omnibus Temporary Amendment Act of 1993 (D.C. Law 10-76, March 17, 1994, law notification 41 DCR 1626).
Legislative History of Laws
For legislative history of D.C. Law 10-41, see Historical and Statutory Notes following § 31-1501.
Law 10-103, the “Insurance Omnibus Amendment Act of 1994,” was introduced in Council and assigned Bill No. 10-394, which was referred to the Committee on Consumer and Regulatory Affairs. The Bill was adopted on first and second readings on January 4, 1994, and February 1, 1994, respectively. Signed by the Mayor on February 17, 1994, it was assigned Act No. 10-191 and transmitted to both Houses of Congress for its review. D.C. Law 10-103 became effective on April 26, 1994.