[§431C-50] Penalties. (a) The commissioner may levy a civil penalty not exceeding $10,000 and the amount of the claim for each violation upon any person, including those persons and their employees licensed pursuant to this chapter, who is found to have committed a fraudulent life settlement act or violated any other provision of this chapter. (b) The license of a person licensed under this chapter who commits a fraudulent life settlement act shall be revoked for a period of at least one year. (c) The penalties under this chapter are cumulative and may be imposed in addition to any other penalties authorized by law. [L 2012, c 256, pt of §1]
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