N.Y. Ins. Law § 2127

§ 2127. Penalties for violations. (a) The superintendent, in lieu of\nrevoking or suspending the license of a licensee in accordance with the\nprovisions of this article, may in any one proceeding by order, require\nthe licensee to pay to the people of this state a penalty in a sum not\nexceeding five hundred dollars for each offense, and a penalty in a sum\nnot exceeding twenty-five hundred dollars in the aggregate for all\noffenses.\n (b) Upon the failure of such a licensee to pay such penalty ordered\npursuant to subsection (a) hereof within twenty days after the mailing\nof such order, postage prepaid, registered, and addressed to the last\nknown place of business of such licensee, unless such order is stayed by\nan order of a court of competent jurisdiction, the superintendent may\nrevoke the license of such licensee or may suspend the same for such\nperiod as he determines.\n