Same: Refusal, Suspension, Revocation

(a)The Commissioner may, for the reasons contained herein, refuse to issue or renew a license, or may suspend or revoke a license, for any of the following reasons:

(1)The person has wilfully violated any provision of this Title;

(2)The person has intentionally made a material misstatement in his application;

(3)The person has been guilty of fraudulent or dishonest practices;

(4)The person has misappropriated or converted to his own use or illegally withheld monies held in a fiduciary capacity;

(5)The person has misrepresented the terms and conditions of policies;

(6)The person has been guilty of rebating;

(7)The person has conducted his business in such a manner as to cause injury to the public or to those with whom he is dealing; COL 1/26/2024 CH. 15 BUSINESS OF INSURANCE

(8)The person does not meet qualifications to act in such capacity. the necessary

(b)A license may be suspended for not more than sixty

(60)days. A person whose license has been revoked shall not be eligible to apply for a new license for a period of three

(3)months.

(c)A refusal, suspension, or revocation under this section shall be by order of Commissioner, and the person adversely affected may request a hearing pursuant to §12206.

(d)Notice of any refusal, suspension or revocation of a license under this section shall be given to the insurer, general agent or sub-agent requesting that such applicant be licensed.