Any person, copartnership, or corporation, (a) misrepresenting his, their, or its qualifications to the Insurance Department, or making false statements in applications for any license or certificate; or (b) any person impersonating or attempting or offering to impersonate another person in taking or attempting or offering to take any examination held in accordance with the rules and regulations of the Insurance Department; or (c) taking or attempting or offering to take such examination in the name of any other person; or (d) procuring any other person falsely to take or attempt or offer to take any such examination for an applicant; or (e) having in his possession examination papers to be used in any such examination when not contained in their sealed wrappers, or copies of such papers at any time prior to the dates set for such examination unless duly authorized by the Insurance Department, or agents thereof; or (f) selling or offering to sell, prior to the examination, examination papers or any question prepared for use in any examination held in accordance with the rules of the Insurance Department; or (g) using in any such examination any question papers or questions, or securing or preparing the answers to such questions prior to the time set for the examination; or (h) transmitting to the Insurance Department answers to questions used in any such examination which are prepared or written outside of the period of examination, or altering any such answer after such period is closed; or (i) securing or attempting to secure fraudulently any credential regularly issued by the Insurance Department which is based upon such examinations; or (j) altering licenses or certificates in such manner as to misrepresent the authority granted under the license or certificate,--shall be guilty of a misdemeanor, and, upon conviction thereof, shall be sentenced to pay a fine of not less than one hundred dollars ($100.00) nor more than five hundred dollars ($500.00), or undergo imprisonment for a period of not less than thirty (30) days nor more than six (6) months, or both, at the discretion of the court. Upon satisfactory evidence of the violation of this act by any person, co-partnership, or corporation licensed as an insurance agent or broker, the Insurance Commissioner may, in his discretion, pursue any one or more of the following courses: (1) Suspend or revoke the license of such offending person, co-partnership, or corporation; (2) refuse, for a period of not to exceed one year thereafter, to issue a new license to such person, co-partnership, or corporation; (3) impose a fine of not more than one thousand dollars ($1,000.00) for each act of violation of this act.

Before the Insurance Commissioner shall take any action as above set forth, he shall give written notice to the person, company, association, or exchange accused of violating the law, stating specifically the nature of such alleged violation, and fixing a time and place, at least ten (10) days thereafter, when a hearing of the matter shall be held. After such hearing or upon failure of the accused to appear at such hearing, the Insurance Commissioner shall impose such of the above penalties as he deems advisable.