Current with changes from the 2024 Legislative Session
Section 7-802 - Civil penalty(a) In addition to any other penalty provided by law, a person that willfully violates this title or any regulation adopted under this title is subject to a penalty of up to $10,000 for the first day of violation and up to $1,000 for each additional day that the violation continues.(b) In determining the amount of any financial penalty to be imposed under this section, the Commissioner shall consider the following factors: (1) the seriousness of the violation;(2) the good faith of the violator;(3) the violator's history of previous violations;(4) the deleterious effect of the violation on the public and the insurance industry; and(5) the assets of the violator.(c) Before imposing a penalty under this subsection, the Commissioner: (1) shall give the person that allegedly committed the violation notice and an opportunity for hearing; and(2) must find that the person willfully committed the violation.Amended by 2013 Md. Laws, Ch. 115,Sec. 1, eff. 1/1/2014.