(a) Should the commissioner find that any person has violated this part or has violated an order issued pursuant to § 45-8-218, the commissioner may order the person to pay to the state a civil penalty in an amount that the commissioner may specify. However, the amount of the civil penalty shall not exceed ten thousand dollars ($10,000) for each violation, or in the case of a continuing violation, ten thousand dollars ($10,000) for each day for which the violation continues. In determining the amount of the penalty, the commissioner shall consider the appropriateness of the penalty with respect to the size of the financial resources and good faith of the person charged, the gravity of the violation and other matters as justice may require.
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Terms Used In Tennessee Code 45-8-219

  • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-8-203
  • Good faith: means honesty in fact in the conduct or transaction concerned. See Tennessee Code 45-1-103
  • Order: includes an approval, authorization, consent, exemption, denial, prohibition, or other official act taken by the commissioner. See Tennessee Code 45-8-203
  • Person: includes an individual, proprietorship, joint venture, partnership, trust, business trust, syndicate, association, joint stock company, corporation, cooperative, government, agency of a government, or any other entity or organization. See Tennessee Code 45-8-203
  • State: means the state of Tennessee. See Tennessee Code 45-8-203
  • Uniform Administrative Procedures Act: refers to title 4, chapter 5. See Tennessee Code 45-8-203
(b) A person assessed a penalty under subsection (a) shall be afforded an opportunity for a hearing upon request within ten (10) days of the issuance of the notice of assessment. The commissioner’s decision after a hearing or otherwise shall constitute a final order and may be reviewed as provided in the Uniform Administrative Procedures Act, compiled in title 4, chapter 5; provided, that the original order shall not be reviewable in a proceeding initiated under this subsection (b).
(c) Subsection (a) is in addition to, and not an alternative to, other provisions of this part that authorize the commissioner to issue orders or to take other action on account of a violation of this part.
(d) Subsection (a) is in addition to, and not an alternative to, any criminal penalties that may be available under § 45-8-223 or any other criminal laws.
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