33-63-9. Commissioner to enforce provisions; penalty for violations.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

The Commissioner may take action which is necessary or appropriate to enforce the provisions of this chapter and to protect guaranteed asset protection waiver holders in this state. After proper notice and opportunity for hearing, the Commissioner may:
(1)
Order the creditor, administrator, or any other person not in compliance with this chapter to cease and desist from further guaranteed asset protection waiver related operations which are in violation of this chapter; and#
(2)
Impose a penalty of not more than $500.00 per violation and not more than $10,000.00 in the aggregate for all violations of a similar nature. For purposes of this paragraph, violations must be of a similar nature if the violation consists of the same or similar course of conduct, action, or practice, irrespective of the number of times the conduct, action, or practice which is determined to be a violation of this chapter occurred.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 33-63-9, enacted by Ga. L. 2008, p. 1097, § 1/SB 470; Ga. L. 2019, p. 533, § 1-33/HB 99. The 2019 amendment, effective July 1, 2019, in the introductory paragraph, deleted ‘‘of Insurance’’ following ‘‘Commissioner’’ near the beginning of the first sentence and substituted ‘‘Commissioner’’ for ‘‘commissioner’’ near the end of the second sentence; and inserted ‘‘a’’ near the end of the first sentence of paragraph (2).

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t33-ch23-65-(v25)-2020-pdf.pdf, Volume V25, 2020 edition, pages 1087 to 1088; merge action: carried; file SHA-256 1cdfeaa4b73e.