Sec. 14.07.02.08. Violation of Binding Regulations

A. If a fund producer violates any of these regulations, MAIF may:

(1) Require the fund producer to meet with the Executive Director of MAIF or the designee of the Executive Director to review the methods of preventing further violations;

(2) Require the fund producer to submit premiums on a gross basis;

(3) Require the fund producer to submit premiums by electronic funds transfer;

(4) Require the fund producer to return commissions by electronic funds transfer;

(5) Refuse to accept further applications from the fund producer; and

(6) Terminate the right of the fund producer to bind coverage.

B. In addition, MAIF may pursue such other civil, criminal, and administrative remedies as may be available under the law.