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60J.11 PENALTIES.
    Subdivision 1. Cease and desist order. If the commissioner believes that the controlling
producer or any other person has not materially complied with sections 60J.06 to 60J.11 or any
rule or order, after notice and opportunity to be heard, the commissioner may order the controlling
producer to cease placing business with the controlled insurer.
    Subd. 2. Commissioner's authority. If the commissioner finds pursuant to the procedural
requirements of section 45.027, that a person has violated a provision of this chapter, the
commissioner may take any action authorized under that section.
    Subd. 3. Civil action by commissioner. The commissioner may maintain a civil action or
intervene in an action brought by or on behalf of the insurer or policyholder for recovery of
compensatory damages for the benefit of the insurer or policyholder or other appropriate relief.
    Subd. 4. Civil action by receiver. If an order for liquidation or rehabilitation of the
controlled insurer has been entered under chapter 60B and the receiver appointed under that
order believes that the controlling producer or any other person has not materially complied
with sections 60J.06 to 60J.11, or any rule or order, and the insurer suffered any loss or damage
therefrom, the receiver may maintain a civil action for recovery of damages or other appropriate
sanctions for the benefit of the insurer.
    Subd. 5. Additional penalties and rights. Nothing contained in this section affects the
right of the commissioner to impose any other penalties provided for in the insurance law.
Nothing contained in this section is intended to or shall in any manner alter or affect the rights of
policyholders, claimants, creditors, or other third parties.
History: 1992 c 540 art 1 s 6