83-37-29 - Penalties.
§ 83-37-29. Penalties.
Any person, firm, association, or corporation engaging in the business herein described without first having complied with the provisions hereof, or any person who shall knowingly make any false statement in the reports required by this chapter as determined by the Commissioner of Insurance after written notice and hearing, shall be assessed a penalty for each violation of not less than Two Hundred Fifty Dollars ($250.00) nor more than Five Hundred Dollars ($500.00), and in addition thereto shall forfeit the license to do business in this state. Funds from such penalties shall be deposited with the State Treasurer to be placed in a fund designated as the "Insurance Department Fund."
Sources: Codes, 1930, § 4001; 1942, § 5603; Laws, 1928, ch. 197; Laws, 1991, ch. 450 § 1, eff from and after passage (approved March 26, 1991).