I. Subject to other provisions in this chapter, any arrangement that fails to obtain and maintain a valid approval from the commissioner while operating or maintaining a multiple-employer welfare arrangement shall be subject to a fine of not less than $5,000 or more than $50,000 for each violation.
II. Subject to other provisions in this chapter, the commissioner may issue a cease and desist order if he finds any person operating or maintaining a multiple-employer welfare arrangement without a currently effective certificate of approval.