THE STATE OF CALIFORNIA
DEPARTMENT OF INSURANCE
SAN FRANCISCO
In the Matter of the Licenses and Licensing Rights of OSCAR PADILLA MEXICAN INSURANCE SERVICES, Inc., OSCAR PADILLA, PETER JOHN PADILLA, Respondents. |
ORDER File No. SD 6673-AP |
WHEREAS, OSCAR PADILLA MEXICAN INSURANCE SERVICES, Inc., OSCAR PADILLA and PETER JOHN PADILLA, Respondents herein, admit that the Commissioner had cause to issue the Accusation on file with the Department of Insurance and have stipulated to the entry of this Order.
THEREFORE, IT IS HEREBY ORDERED, based upon the allegations contained in the First Amended Accusation and the terms and conditions contained in the Stipulation and Waiver, attached hereto, that pursuant to Insurance Code section 1742, Respondents' are hereby issued restricted licenses for a term of two years effective from the date this order is signed. Respondent Peter John Padilla shall pay a money penalty of ten thousand dollars ($10,000). Respondent Oscar Padilla shall pay a money penalty of one thousand dollars ($1,000). Respondents' shall also pay one thousand dollars ($1,000) to reimburse the Insurance Commissioner for costs associated with investigating Respondents' conduct in this matter.
IT IS FURTHER ORDERED that all terms and conditions set out in the Stipulation and Waiver executed by the parties and their legal representatives are hereby incorporated by reference into this order.
FINALLY, IT IS ORDERED that the effective date of this order is the date this order is executed by the Commissioner or his designee.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal this day of , 2002.
HARRY W. LOW
Commissioner
Department of Insurance
By
PATRICIA K. STAGGS
Deputy
