Sec. 38a-908. (Formerly Sec. 38-426). Cooperation of officers, owners and employees. Penalties.
Sec. 38a-908. (Formerly Sec. 38-426). Cooperation of officers, owners and employees. Penalties. (a) Any officer, manager, director, trustee, owner, employee or agent
of any insurer, or any other persons with authority over or in charge of any segment of
the insurer's affairs, shall cooperate with the commissioner in any proceeding under
this chapter or any investigation preliminary to the proceeding. The term "person" as
used in this section shall include any person who exercises control directly or indirectly
over activities of the insurer through any holding company or other affiliate of the insurer. "To cooperate" shall include, but shall not be limited to, the following: (1) To
reply promptly in writing to any inquiry from the commissioner requesting such a reply;
and (2) to make available to the commissioner any books, accounts, documents, or other
records or information or property of or pertaining to the insurer and in his possession,
custody or control.
(b) No person shall obstruct or interfere with the commissioner in the conduct of
any delinquency proceeding or any investigation preliminary or incidental thereto.
(c) This section shall not be construed to abridge otherwise existing legal rights,
including the right to resist a petition for liquidation or other delinquency proceedings,
or other orders.
(d) Any person included within subsection (a) of this section who fails to cooperate
with the commissioner, or any person who obstructs or interferes with the commissioner
in the conduct of any delinquency proceeding or any investigation preliminary or incidental thereto, or who violates any order the commissioner issued validly under sections
38a-903 to 38a-961, inclusive, may: (1) Be sentenced to pay a fine not exceeding ten
thousand dollars or imprisoned not more than one year, or both; or (2) after a hearing,
be subject to a civil penalty not to exceed twenty-five thousand dollars and the revocation
or suspension of any insurance licenses issued by the commissioner.
(P.A. 79-382, S. 6; P.A. 92-93, S. 5; P.A. 08-178, S. 46.)
History: Sec. 38-426 transferred to Sec. 38a-908 in 1991; P.A. 92-93 made technical corrections for statutory consistency; P.A. 08-178 amended Subsec. (d) by making technical changes and increasing maximum civil penalty in Subdiv.
(2) from $10,000 to $25,000.