2006 Minnesota Statutes

60A.75 VIOLATIONS.
    Subdivision 1. Administrative and civil penalties and liabilities. A reinsurance
intermediary, insurer, or reinsurer found by the commissioner, after a hearing conducted in
accordance with chapter 14, to be in violation of any provision of sections 60A.70 to 60A.756,
shall:
(1) for each separate violation, pay a penalty in an amount not exceeding $5,000; and
(2) be subject to revocation or suspension of its license.
    Subd. 2. Civil remedies. (a) If it was found that because of the violation the insurer or
reinsurer has suffered loss or damage, the commissioner may maintain a civil action for recovery
of compensatory damages for the benefit of the reinsurer or insurer and its policyholders and
creditors or seek other appropriate relief.
(b) If an order of rehabilitation or liquidation of the insurer has been entered pursuant
to chapter 60B, and the receiver appointed under that order determines that the reinsurance
intermediary or any other person has violated sections 60A.70 to 60A.756, or any rule or order
adopted under those sections, and the insurer suffered any loss or damage, the receiver may
maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of
the insurer.
    Subd. 3. Judicial review. The decision, determination, or order of the commissioner pursuant
to subdivision 1 is subject to judicial review pursuant to chapter 14.
    Subd. 4. Other penalties. Nothing contained in this section affects the right of the
commissioner to impose any other penalties provided in the insurance laws.
History: 1991 c 325 art 11 s 11; 1995 c 214 s 11