§ 44. Violations; penalties. 1. * (a) Without limiting any power\ngranted to the superintendent under any other provision of this chapter,\nthe superintendent may, in a proceeding after notice and a hearing,\nrequire any safe deposit company, licensed lender, licensed casher of\nchecks, licensed sales finance company, licensed insurance premium\nfinance agency, licensed transmitter of money, licensed mortgage banker,\nlicensed student loan servicer, registered mortgage broker, licensed\nmortgage loan originator, registered mortgage loan servicer or licensed\nbudget planner to pay to the people of this state a penalty for any\nviolation of this chapter, any regulation promulgated thereunder, any\nfinal or temporary order issued pursuant to section thirty-nine of this\narticle, any condition imposed in writing by the superintendent in\nconnection with the grant of any application or request, or any written\nagreement entered into with the superintendent.\n * NB Effective until certain provisions are met (see Ch. 58 of 2025,\nPart Y, § 13)\n * (a) Without limiting any power granted to the superintendent under\nany other provision of this chapter, the superintendent may, in a\nproceeding after notice and a hearing, require any safe deposit company,\nlicensed lender, licensed buy-now-pay-later lender, licensed casher of\nchecks, licensed sales finance company, licensed insurance premium\nfinance agency, licensed transmitter of money, licensed mortgage banker,\nlicensed student loan servicer, registered mortgage broker, licensed\nmortgage loan originator, registered mortgage loan servicer or licensed\nbudget planner to pay to the people of this state a penalty for any\nviolation of this chapter, any regulation promulgated thereunder, any\nfinal or temporary order issued pursuant to section thirty-nine of this\narticle, any condition imposed in writing by the superintendent in\nconnection with the grant of any application or request, or any written\nagreement entered into with the superintendent.\n * NB Effective upon the one hundred eightieth day after the\npromulgation of rules and/or regulations by the department of financial\nservices to effectuate certain provisions (see Ch. 58 of 2025, Part Y, §\n13)\n (b) The penalty for each violation prescribed in paragraph (a) of this\nsubdivision shall not exceed two thousand five hundred dollars for each\nday during which such violation continues.\n (c) Notwithstanding paragraph (b) of this subdivision, if the\nsuperintendent determines (i) that any such licensee, registrant or safe\ndeposit company has committed a violation as described in paragraph (a)\nof this subdivision, or has recklessly engaged in any unsafe and unsound\npractice and (ii) that such violation or practice is part of a pattern\nof misconduct, results or is likely to result in more than minimal loss\nto such licensee, registrant or safe deposit company, or results in\npecuniary gain or other benefit to such licensee, registrant or safe\ndeposit company, then the penalty shall not exceed fifteen thousand\ndollars for each day during which such violation or practice continues.\n (d) Notwithstanding paragraphs (b) or (c) of this subdivision, if the\nsuperintendent determines (i) that any such licensee, registrant or safe\ndeposit company has knowingly and willfully committed any violation as\ndescribed in paragraph (a) of this subdivision, or has knowingly and\nwillfully engaged in any unsafe and unsound practice, or (ii) that any\nlicensee, registrant or safe deposit company has knowingly committed any\nviolation described in paragraph (a) of this subdivision which\nsubstantially undermines public confidence in any such licensee,\nregistrant or safe deposit company or in such licensees, registrants or\nsafe deposit companies generally, and, in either case, (iii) that such\nlicensee, registrant or safe deposit company has knowingly or recklessly\nincurred so substantial a loss as a result of such violation or pract
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