I always thought we had that listed on the code of conduct page, but it turns out I was wrong. Other users have pretty much already covered it. Depending on the severity, it can vary from a warning, reduction of reputation points to the temporary suspension of the account. If this keeps on happening, the account may be completely locked. I'll make sure to update the Code of Conduct soon.
One thing that I wanted to add: please always flag the specific post that violates the Code of Conduct or other guidelines. I've seen situations where, for instance, an answer was flagged, but the problem was with all of the comments below the answer, and not with the comments themselves.
I'm glad that you like the Code of Conduct :) If you have any ideas how to better expose our Code of Conduct, I'm also happy to hear them!