Sec. 38a-163. (Formerly Sec. 38-293). Application for license. Investigation. Hearing on license denial. Issuance or renewal.
Sec. 38a-163. (Formerly Sec. 38-293). Application for license. Investigation.
Hearing on license denial. Issuance or renewal. (a) Each applicant for an insurance
premium finance company license or for any renewal of such license shall file with the
commissioner a written application in such manner and form as the commissioner shall
prescribe together with said fee of fifty dollars which fee shall be returned to the applicant
if such license is not granted.
(b) Upon the filing of an application and payment of the license fee the commissioner shall make an investigation of the applicant and shall issue an insurance premium
finance company license if the applicant is qualified in accordance with the provisions
of sections 38a-160 to 38a-170, inclusive. If the commissioner does not find the applicant
so qualified, he shall, within thirty days of receipt of the license application and fee,
grant the applicant a full hearing, provided such applicant shall have requested such
hearing within said period. Any hearing conducted under said sections may be held by
the commissioner or any person duly appointed by him, provided any person acting as
a hearing officer on behalf of the commissioner shall submit his findings and recommendations to the commissioner for his decision in the matter.
(c) The commissioner may issue or renew any license under this chapter when he
is satisfied that the applicant (1) is competent and trustworthy and intends to act in good
faith in the capacity of a licensee under the provisions of sections 38a-160 to 38a-170,
inclusive; (2) has a good business reputation and has had such experience, training or
education so as to qualify him for a license under the provisions of said sections, and
(3) if the applicant is a corporation, that it is either incorporated under the laws of this
state or, if a foreign corporation, it is authorized to transact business in this state.
(1971, P.A. 425, S. 4; P.A. 96-227, S. 5.)
History: Sec. 38-293 transferred to Sec. 38a-163 in 1991; P.A. 96-227 reorganized subsections.