A. The director may deny, suspend for not more than twelve months, revoke or refuse to renew an insurance producer's license or may impose a civil penalty in accordance with subsection F of this section or any combination of actions for any one or more of the following causes:

1. 1. Providing incorrect, misleading, incomplete or materially untrue information in the license application.
2. 2. Violating any provision of this title or any rule, subpoena or order of the director.
3. 3. Obtaining or attempting to obtain a license through misrepresentation or fraud.
4. 4. Improperly withholding, misappropriating or converting any monies or properties received in the course of doing insurance business.
5. 5. Intentionally misrepresenting the terms of an actual or proposed insurance contract or application for insurance.
6. 6. Having been convicted of a felony.
7. 7. Having admitted or been found to have committed any insurance unfair trade practice or fraud.
8. 8. Using fraudulent, coercive or dishonest practices, or demonstrating incompetence, untrustworthiness or financial irresponsibility in the conduct of business in this state or elsewhere.
9. 9. Having an insurance producer license, or its equivalent, denied, suspended or revoked in any state, province, district or territory.
10. 10. Forging another's name to any document related to an insurance transaction.
11. 11. Aiding or assisting any person in the unauthorized transaction of insurance business.
12. 12. Violating section 41-624, subsection B or C.
13. 13. Violating section 6-1410, 6-1412 or 6-1413.

14. 14. Using the insurance producer's license principally to procure insurance that covers the life, property or insurable interests, other than to insure an interest in property that is being sold under a contract or that is securing a loan, of any of the following:

    1. (a) The licensee.
    2. (b) The licensee's family or relatives to the second degree.
    3. (c) The licensee’s employer.
    4. (d) The licensee’s employees.
    5. (e) A firm or corporation, or its employees, in which the licensee owns a substantial interest.

B. The director may deny, suspend for not more than twelve months, revoke or refuse to renew the license of a business entity:

1. 1. For any of the causes prescribed in subsection A of this section if the cause relates to the designated producer or any member, officer, director or manager of the business entity.
2. 2. If the director finds that an individual insurance producer's violation was known or should have been known by the designated producer or one or more of the members, officers, directors or managers acting on behalf of the business entity and the violation was not seasonably reported to the director and no reasonable corrective action was taken.

F. In addition to or instead of any suspension, revocation or refusal to renew a license pursuant to this section, after a hearing the director may:

1. 1. Impose a civil penalty of not more than two hundred fifty dollars for each unintentional failure or violation, up to an aggregate civil penalty of two thousand five hundred dollars.
2. 2. Impose a civil penalty of not more than two thousand five hundred dollars for each intentional failure or violation, up to an aggregate civil penalty of fifteen thousand dollars.
3. 3. Order the licensee to provide restitution to any party injured by the licensee's action.