Rulemaking authority; fees.

(a) The commissioner may adopt reasonable rules necessary to implement Sections 27-45A-4 and 27-45A-5.

(b) The rules adopted under this chapter shall set penalties or civil fines for violations of Sections 27-45A-4 and 27-45A-5 and the rules implementing this chapter including, without limitation, monetary fines and the suspension or revocation of a license.

(c) The fees collected pursuant to this chapter shall be deposited in the State Treasury to the credit of the Insurance Department Fund. Any civil fine or penalty collected shall be deposited in the State Treasury to the credit of the State General Fund.

(Act 2019-457, §6.)