(1) The commissioner may, after notice and a hearing, levy a civil penalty in an amount not to exceed ten thousand dollars ($10,000) against a county mutual insurance company or an entity required to be licensed as a county mutual insurance company, upon a finding that the county mutual insurance company, the entity required to be licensed as a county mutual insurance company, an officer or director of the county mutual insurance company, or the entity required to be licensed as a county mutual insurance company: Has violated this chapter or any rule promulgated under this chapter;
(2) Has violated any order issued by the commissioner, including, but not limited to, those orders issued under §§ 56-22-111, 56-22-115 and 56-22-116;
(3) Is in a hazardous operating condition;
(4) Has made a filing with the commissioner containing fraudulent or materially false or misleading statements of fact;
(5) Has failed or refused to pay for the costs of any examination of the county mutual insurance company undertaken under this chapter;
(6) Has been convicted of a felony; or
(7) Has committed any unfair act or practice as set forth in § 56-8-103 or § 56-8-104.
(8) All hearings conducted pursuant to this section shall be conducted pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
(9) Each day of continued violation shall constitute a separate violation for purposes of determining the possible amount of penalty under this section.