Effective 01 Jan 1994, see footnote
287.940. Penalties for violations, director may impose — each day a separate violation, when — license may be suspended or revoked, when. — 1. The director may, upon a finding that any person or organization has violated any provision of sections 287.930 to 287.975, impose a penalty of not more than one thousand dollars for each such violation, but if the director finds such violation to be willful, a penalty of not more than ten thousand dollars for each such violation may be imposed. Such penalties may be in addition to any other penalty provided by law.
2. For purposes of this section, any insurer using a rate for which the insurer has failed to file the rate, supplementary rate information or supporting information, as required by sections 287.930 to 287.975, shall have committed a separate violation for each day such failure continues.
3. The director may suspend or revoke the license of any advisory organization or insurer which fails to comply with an order of the director within the time limit specified by such order, or any extension thereof which the director may grant.
4. The director may determine when a suspension of license shall become effective and it shall remain in effect for the period fixed by the director, unless the director modifies or rescinds such suspension, or until the order upon which such suspension is based is modified, rescinded or reversed.
5. No penalty shall be imposed and no license shall be suspended or revoked except on a written order of the director, stating the findings made after hearing.
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(L. 1993 S.B. 251 § 21)
Effective 1-01-94
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