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(215 ILCS 5/1020)
(from Ch. 73, par. 1065.720)
(A) In any case where a hearing pursuant to Section
1016 results in the finding of a knowing violation of this Article, the
Director may, in addition to the issuance of a cease and desist order as
prescribed in Section 1018, order payment of a monetary penalty of not more
than $1,000 for each violation but not to exceed $20,000 in the aggregate
for multiple violations.
(B) Any person who violates a cease and desist order of the Director under
Section 1018 of this Article may, after notice and hearing and upon order
of the Director, be subject to one or more of the following penalties, at
the discretion of the Director:
(1) a monetary fine of not more than $20,000 for each
(2) a monetary fine of not more than $100,000 if the
Director finds that violations have occurred with such frequency as to constitute a general business practice, or
(3) suspension or revocation of an insurance
institution's or agent's license.
(Source: P.A. 93-32, eff. 7-1-03.)