Issued and entered this 22nd day of October 2003 by John R. Schoonmaker, Special Deputy Commissioner

FINAL DECISION

The Administrative Law Judge issued a Proposal for Decision dated September 22, 2003. She recommended that the Commissioner suspend all licenses issued by this agency to the Respondent and to impose other sanctions that the Commissioner finds appropriate. Neither party filed exceptions.

The factual findings in the PFD are in accordance with the preponderance of the evidence and the conclusions of law are supported by reasoned opinion. The PFD is attached, adopted, and made part of this final decision. However, it is noted that sanctions for violations of Chapter 12 are contained in MCL 500.1244, not MCL 500.150. The Commissioner is authorized to revoke and suspend licenses, to impose civil fines, and to order restitution. The Commissioner is required to order a person who has violated the chapter to cease and desist from the violation.

The breach of fiduciary duty is of ultimate importance. Families and companies may be bankrupt by agents converting funds to their own uses and not securing needed insurance. Revocation of the Respondent’s license to protect the public is warranted. He should also be ordered to make restitution and pay a civil fine.

II
ORDER

Therefore, it is ORDERED that:

1. The Respondent’s insurance agent license is revoked.
   
2. The Respondent shall pay $569.00 in restitution to XXXXXX XXXXX by December 1, 2003.
   
3. The Respondent shall pay a civil penalty made payable to the State of Michigan by December 1, 2003.