(a) The commissioner may place on probation, refuse to issue or renew, suspend, or revoke the license of any licensee under this chapter, or may levy a civil penalty in accordance with subsection (c), or any combination of actions, for any one or more of the following causes:
(1) Any cause for which issuance of the license could have been refused had it then existed and been known to the commissioner.
(2) Providing incorrect, misleading, incomplete, or materially untrue information in any application or in any communication to the commissioner.
(3) Obtaining or attempting to obtain a license through misrepresentation or fraud.
(4) Intentionally misrepresenting the terms of any actual or proposed insurance contract or application for insurance.
(5) Having admitted or been found to have committed any insurance unfair trade practice or fraud.
(6) For inducing, persuading, or advising any policyholder to surrender or cause to be cancelled any policy of insurance issued to the policyholder by any authorized insurer in exchange for a policy offered by the licensee where the surrender or cancellation shall proximately result to the financial detriment of such policyholder, unless the policyholder shall have been fully advised of that fact by the licensee.
(7) Using fraudulent, coercive, or dishonest practices, or demonstrating incompetence, untrustworthiness, or financial irresponsibility in the conduct of business under a license in this state or elsewhere.
(8) Improperly withholding, misappropriating, or converting any monies or properties belonging to the insurers, insureds, or others received by the licensee in the exercise of his or her license.
(9) Violating insurance laws or violating any valid order, subpoena, rule, or regulation issued by the commissioner or issued by another state's insurance commissioner.
(10) Having been convicted of a felony.
(11) Having an insurance producer license, or its equivalent, denied, suspended, or revoked in any other state, province, district, or territory.
(12) Forging another's name to an application for insurance or to any document related to an insurance transaction.
(13) Improperly using notes or any other reference material to complete an examination for an insurance license.
(14) Knowingly accepting insurance business from an individual who is not licensed.
(15) Failing to comply with an administrative or court order imposing a child support obligation.
(16) Failing to pay state income tax or failing to comply with any administrative or court order directing payment of state income tax.
(b) The license of a business entity may be suspended, revoked, or refused if the commissioner finds, after hearing, that an individual licensee's violation was known or should have been known by one or more of the partners, officers, or managers acting on behalf of the business entity and the violation was not reported timely to the commissioner nor corrective action taken in relation thereto.
(c) In the absence of a greater fine specifically provided elsewhere in this code, and in addition to or in lieu of any applicable probation, denial, suspension, or revocation of a license under this section, a person may, in the sole discretion of the commissioner after hearing, be subject to a civil fine in an amount not to exceed ten thousand dollars ($10,000) per violation.
(d) The commissioner shall retain the authority to enforce the provisions of and impose any penalty or remedy authorized by this chapter and this title against any person who is under investigation for or charged with a violation of this chapter or this title even if the person's license or registration has been surrendered or has lapsed by operation of law.