Notwithstanding Section 31A-2-308, if a vendor or the vendor's employee or authorized representative violate this part, the commissioner may do any of the following in accordance with Title 63G, Chapter 4, Administrative Procedures Act:
(1) impose a fine not to exceed:
(a)
(i) $2,500 per violation by a licensed individual; or
(ii) $5,000 per violation by an entity; or
(b) $40,000 in the aggregate for the conduct; or
(2) impose other penalties that the commissioner considers necessary and reasonable to carry out the purpose of this part, including:
(a) suspending or revoking the privilege of transacting portable electronics insurance pursuant to this part at a specific location where violations have occurred; and
(b) suspending or revoking the ability of individual employees or authorized representatives to act under the vendor's limited lines license.