(1) In accordance with Title 63G, Chapter 4, Administrative Procedures Act, the commissioner may:
(a) order a person who violates this chapter to cease and desist from an act that violates this chapter;
(b) impose a penalty:
(i) up to $500 per violation; and
(ii) not to exceed the aggregate of $40,000 in a calendar year for the violations under this chapter of a similar nature; or
(c) take a combination of actions under this Subsection (1).
(2) For purposes of this section, a violation is of a similar nature if the violation consists of the same or similar action, course of conduct, or practice, irrespective of the number of times the action, conduct, or practice occurs that is determined to violate this chapter.