Whenever the director shall have cause to believe that a violation of this chapter or the regulations promulgated pursuant to this chapter has occurred, the director may, in accordance with the requirements of the Administrative Procedures Act, chapter 35 of Title 42, revoke or suspend a license; levy an administrative penalty in an amount not less than five hundred dollars ($500) nor more than five thousand dollars ($5,000); order the violator to cease marketing any health benefit plans in the state; require the violator to take any actions necessary to comply with the provisions of law; or any combination of these actions.