If a lessor or its employee or authorized representative violates any provision of this article, the Commission may do any of the following:
1. After notice and hearing, impose fines and penalties in accordance with § 38.2-218; and
2. After notice and hearing, impose any such other penalties that the Commission deems necessary and reasonable to carry out the purpose of this article, including (i) suspending the privilege of transacting self storage insurance pursuant to this article at specific business locations where violations have occurred; (ii) suspending or revoking the ability of individual employees or authorized representatives to act under the license; and (iii) imposing a penalty in accordance with § 38.2-218 on the licensed producer designated by the lessor pursuant to § 38.2-1820.