A. If a vendor of portable electronics or its employee or authorized representative violates any provision of Sections 1 through 7 of this act, the Insurance Commissioner may:
1. After notice and hearing, impose fines not to exceed Five Hundred Dollars ($500.00) per violation or Five Thousand Dollars ($5,000.00) in the aggregate for such conduct; or 2. After notice and hearing, impose other penalties that the Commissioner deems necessary and reasonable to carry out the purpose of Sections 1 through 7 of this act, including:
a. suspending the privilege of transacting portable electronics insurance pursuant to Sections 1 through 7 of this act at specific business locations where violations have occurred, and b. suspending or revoking the ability of individual employees or authorized representatives to act under the license.