On all PoE devices, when a port enters a fault state if you set the operator limit lower than the amount requested by the PD, the system removes power from that port. The power removed is, again, available only to other ports on the same slot or stand-alone switch. The port stays in the fault state until you disable that port, disconnect the attached PD, or reconfigure the operator limit to be high enough to satisfy the PD requirements.
When a port is disconnected or otherwise moves into a fault state, SNMP generates an event (after you configure SNMP and a log message is created).