Section 23-66-512 - PenaltiesA person who violates this subchapter is subject to the following:
(1)(A) Suspension or revocation of license, civil penalties of up to ten thousand dollars ($10,000) per violation, or both.(B) Suspension or revocation of license and imposition of civil penalties shall be pursuant to an order of the Insurance Commissioner issued under § 23-61-301 et seq.(C) The commissioner's order may require a person found to be in violation of this subchapter to make restitution to persons aggrieved by violations of this subchapter;(2)(A) A person convicted of a violation of § 23-66-502 by a court of competent jurisdiction shall be guilty of a Class D felony.(B) A person convicted of a violation of § 23-66-502 shall be ordered to pay restitution to persons aggrieved by the violation of this subchapter.(C) Restitution shall be ordered in addition to a fine or imprisonment; and(3) A person convicted of a felony violation of this subchapter pursuant to subdivision (2) of this section shall be disqualified from engaging in the business of insurance.