HRS §431C-50
Penalties for fraud and other violations
This section lets the insurance commissioner fine people up to $10,000 plus the claim amount for fraud or breaking this law. If a licensed person commits fraud, their license is taken away for at least a year. These penalties can be added to any other legal penalties.
everyone
The statute, as written — 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.
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