Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 148.00 - Registration And Reporting Requirements For Third-party Administrators
Section 148.05 - Grounds for Suspension or Revocation of Registration and Imposition of Fines
Current through Register 1531, September 27, 2024
(1) The Commissioner may, after a hearing, suspend or revoke the registration of any Third-party Administrator if the Commissioner finds that:
(2) If the Commissioner finds that one or more grounds exist for the suspension or revocation of a registration issued under 211 CMR 148.00, the Commissioner may, in lieu of, or in addition to, suspension or revocation, impose a fine of not more than $1,000 for each and every violation upon the Third-party Administrator.
(3) Any Third-party Administrator which engages in business in the Commonwealth without registering in accordance with 211 CMR 148.00 may, after a hearing, be subject to a fine of not more than $1,000 for each and every violation.