(a)

1. (1) The Insurance Commissioner may suspend or revoke upon notice and a hearing, or nonrenew or refuse to continue without notice and a hearing, the license of any title insurance agent who has failed to comply with the license continuation provisions of this part and Arkansas Code § 23-64-301 et seq., including failure of the title insurance agent to remit or timely remit the annual fees to the commissioner.
2. (2) Alternatively, the commissioner may, in his or her discretion, impose a monetary penalty in the amounts contained in Arkansas Code § 23-64-304.

(b) The commissioner may suspend, revoke, or nonrenew or refuse to continue the license of any title insurance agent who is:

1. (1) In violation of or noncompliance with the:

   1. (A) Provisions of the unfair trade practices laws of the state under the Trade Practices Act, Arkansas Code § 23-66-201 et seq., and Arkansas Code § 23-66-301 et seq.; or
   2. (B) License provisions under Arkansas Code § 23-64-101 et seq., and Arkansas Code § 23-64-501 et seq., particularly Arkansas Code § 23-64-512; or

2. (2) In violation of the:

   1. (A) Laws of the State of Arkansas;
   2. (B) Arkansas Insurance Code; or
   3. (C) State Insurance Department’s rules.

(c) Administrative proceedings under this part shall be conducted under the:

1. (1) Arkansas Administrative Procedure Act, Arkansas Code § 25-15-201 et seq., as applicable; or
2. (2) Provisions of the Arkansas Insurance Code under Arkansas Code § 23-61-301 et seq.