§ 7816. Penalties and civil remedies. (a)(1) If, after notice and
hearing, the superintendent determines that any information required by
subsection (a) or (c) of section seven thousand eight hundred eleven of
this article knowingly was not provided or knowingly was delayed in
being provided by the life settlement broker to the material detriment
of the owner, then the superintendent, in addition to any other penalty
prescribed by law, may require the life settlement broker to pay to the
people of this state an amount not to exceed the compensation due or
provided to the life settlement broker.

(2) If, after notice and hearing, the superintendent determines that
any information required by subsection (a) of section seven thousand
eight hundred eleven of this article knowingly was not provided or
knowingly was delayed in being provided by the life settlement provider
to the material detriment of the owner, then the superintendent, in
addition to any other penalty prescribed by law, may require the life
settlement provider to pay to the people of this state an amount not to
exceed forty-five thousand dollars.

(b) If, after notice and hearing, the superintendent determines any
person knowingly violated subsection (c) of section seven thousand eight
hundred fifteen of this article, then the superintendent, in addition to
any other penalty prescribed by law, may require the person to pay to
the people of this state an amount not to exceed one hundred thousand
dollars.

(c) If, after notice and hearing, the superintendent determines that
any person knowingly violated section seven thousand eight hundred ten
of this article, then the superintendent, in addition to any other
penalty prescribed by law, may require the person to pay the insured or
owner an amount not to exceed twenty thousand dollars.

(d)(1) If, after notice and hearing, the superintendent determines
that any person knowingly and willfully acted as a life settlement
provider without a license in violation of subsection (a) of section
seven thousand eight hundred three of this article, then the
superintendent may impose a civil penalty payable to the people of this
state not to exceed one hundred thousand dollars for each policy settled
in violation thereof.

(2) If, after notice and hearing, the superintendent determines that
any person knowingly and willfully acted as a life settlement broker
without a license in violation of subsection (a) of section two thousand
one hundred thirty-seven of this chapter, then the superintendent may
impose a civil penalty payable to the people of this state not to exceed
fifty thousand dollars for each policy settled in violation thereof.

(3) If, after notice and hearing, the superintendent determines that
any person knowingly and willfully acted as a life settlement
intermediary without a registration in violation of subsection (a) of
section seven thousand eight hundred four of this article, then the
superintendent may impose a civil penalty payable to the people of this
state not to exceed fifty thousand dollars for each transaction.

(e) Any person who has been injured by reason of a violation of
subsection (a), (b) or (c) of this section may bring an action to
recover damages suffered by reason of such violation. In any action
brought under this section, the court may award reasonable attorney's
fees to a prevailing plaintiff.

(f) Nothing provided in this article shall limit or restrict any
common law, contractual or other right of action.