9. If a vendor of portable electronics or its employee or authorized representative violates any provision of this act or any provision of P.L.2001, c.210 (C.17:22A-26 et seq.), the commissioner may do any of the following:
a. Impose fines in accordance with P.L.2001, c.210 (C.17:22A-26 et seq.). However, fines assessed against a vendor licensed under this act shall not exceed $50,000 in the aggregate for multiple violations that involve the same conduct, action, or practice.
b. Impose other penalties that the commissioner deems necessary and reasonable to carry out the purposes of this act, including:
(1) suspending the privilege of transacting portable electronics insurance pursuant to this section at specific business locations where violations have occurred; and
(2) suspending or revoking the ability of individual employees or authorized representatives to act under the license.