Okla. Stat. tit. 15, § 15-141.29
This is the official text of Okla. Stat. tit. 15, § 15-141.29, part of Oklahoma’s Stat. tit. 15, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 15,." Browse the sections below, each linked to its official government source.
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Final order - Cease and desist order
Official statutory text
A. After the hearing, the Insurance Commissioner shall enter a
final order. If it is determined that the person charged has
engaged in an unfair or deceptive act or practice or the unlawful
transaction of service warranty business, the Commissioner also
shall issue an order requiring the violator to cease and desist from
engaging in such method of competition, act, or practice or the
unlawful transaction of service warranty business. Further, the
Commissioner may, at his or her discretion, order one or both of the
following penalties:
1. The suspension or revocation of the license of such person,
or eligibility for any license, if the person knew, or reasonably
should have known, he or she was in violation of the Service
Warranty Act; or
2. If it is determined that the person charged has provided or
offered to provide service warranties without proper licensure, the
imposition of an administrative penalty not to exceed One Thousand
Dollars ($1,000.00) for each service warranty contract offered or
effectuated.
B. Any person subject to an order of the Insurance Commissioner
under this section may obtain a review of such order by filing an
appeal in accordance with the provisions of the Administrative
Procedures Act.
C. Any person who violates a cease and desist order while such
order is in effect, after notice and hearing, is subject, at the
discretion of the Commissioner, to one or both of the following
penalties:
1. A monetary penalty of not more than Fifty Thousand Dollars
($50,000.00) as to all matters determined in such hearing; and
Oklahoma Statutes - Title 15. Contracts Page 56
2. The suspension or revocation of such person's license or
eligibility to hold a license.
final order. If it is determined that the person charged has
engaged in an unfair or deceptive act or practice or the unlawful
transaction of service warranty business, the Commissioner also
shall issue an order requiring the violator to cease and desist from
engaging in such method of competition, act, or practice or the
unlawful transaction of service warranty business. Further, the
Commissioner may, at his or her discretion, order one or both of the
following penalties:
1. The suspension or revocation of the license of such person,
or eligibility for any license, if the person knew, or reasonably
should have known, he or she was in violation of the Service
Warranty Act; or
2. If it is determined that the person charged has provided or
offered to provide service warranties without proper licensure, the
imposition of an administrative penalty not to exceed One Thousand
Dollars ($1,000.00) for each service warranty contract offered or
effectuated.
B. Any person subject to an order of the Insurance Commissioner
under this section may obtain a review of such order by filing an
appeal in accordance with the provisions of the Administrative
Procedures Act.
C. Any person who violates a cease and desist order while such
order is in effect, after notice and hearing, is subject, at the
discretion of the Commissioner, to one or both of the following
penalties:
1. A monetary penalty of not more than Fifty Thousand Dollars
($50,000.00) as to all matters determined in such hearing; and
Oklahoma Statutes - Title 15. Contracts Page 56
2. The suspension or revocation of such person's license or
eligibility to hold a license.
Status: in_force · Read it on the official government site
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