LAC 37:XIII.20531 – Denial, Revocation and Penalties

A. The commissioner may deny or revoke an innovation waiver if the participant fails to comply with Regulation 134, or if the innovation waiver causes harm to consumers as determined by the commissioner.
B. In addition to any other penalties permitted by law, the commissioner may impose a fine of not more than one thousand dollars for failure to comply with any terms, conditions, or limitations established by the Insurance Regulatory Sandbox Act and Regulation 134.

AUTHORITY NOTE: Promulgated in accordance with R.S. 22:11, 22:1430.1 et seq., and the Administrative Procedure Act, R.S. 49:950 et seq.

HISTORICAL NOTE: Promulgated by the Department of Insurance, Office of the Commissioner, LR 51:968 (July 2025).