§33-11-8. Penalty for violation of cease and desist orders.

If, after notice and hearing, the commissioner determines that any person has violated a cease and desist order issued by the commissioner and which such order is still in effect, the commissioner may at his discretion order any one or more of the following:

(a) Require the payment to the State of West Virginia of a penalty in a sum not exceeding $10,000 for each and every act or violation.

(b) Revoke or suspend the license of such person.