Maryland Code, INSURANCE 26-502
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Terms Used In Maryland Code, INSURANCE 26-502
- Conviction: A judgement of guilt against a criminal defendant.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
(a) A person that willfully violates this title is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000 or imprisonment not exceeding 1 year or both.
(b) In addition to any other penalty provided in this title, the Commissioner after notice and hearing may impose on a licensee or representative for each violation of this title a penalty:
(1) not exceeding $25,000 for a licensee; or
(2) not exceeding $5,000 for a representative.
(c) Instead of or in addition to a penalty imposed under this section, the Commissioner may require that restitution be made to any citizen who has suffered financial injury because of a violation of this title.