560.117  Administrative fines; enforcement.--

(1)  The department may, by complaint, initiate a proceeding pursuant to chapter 120 to impose an administrative fine against any person found to have violated any provision of the code or a cease and desist order of the department or any written agreement with the department. No such proceeding shall be initiated and no fine shall accrue pursuant to this section until after such person has been notified in writing of the nature of the violation and has been afforded a reasonable period of time, as set forth in the notice, to correct the violation and has failed to do so. Except as provided in this section, such fine may not exceed $100 a day for each violation. The department may excuse any such fine with a showing of good cause by the person being fined.

(2)  The department may impose a fine not to exceed $1,000 per day for each day that a person violates the code by engaging in the business of a money transmitter without being registered.

(3)  Any administrative fine levied by the department may be enforced by the department by appropriate proceedings in the circuit court of the county in which such person resides or maintains a principal office. In any administrative or judicial proceeding arising under this section, a party may elect to correct the violation asserted by the department and, upon the party's doing so, any fine ceases to accrue; however, an election to correct the violation does not render moot any administrative or judicial proceeding.