375.141. Suspension, revocation, refusal of license--grounds--procedure.
Suspension, revocation, refusal of license--grounds--procedure.
375.141. 1. The director may suspend, revoke, refuse to issue orrefuse to renew an insurance producer license for any one or more of thefollowing causes:
(1) Intentionally providing materially incorrect, misleading,incomplete or untrue information in the license application;
(2) Violating any insurance laws, or violating any regulation,subpoena or order of the director or of another insurance commissioner inany other state;
(3) Obtaining or attempting to obtain a license through materialmisrepresentation or fraud;
(4) Improperly withholding, misappropriating or converting any moneysor properties received in the course of doing insurance business;
(5) Intentionally misrepresenting the terms of an actual or proposedinsurance contract or application for insurance;
(6) Having been convicted of a felony or crime involving moralturpitude;
(7) Having admitted or been found to have committed any insuranceunfair trade practice or fraud;
(8) Using fraudulent, coercive, or dishonest practices, ordemonstrating incompetence, untrustworthiness or financial irresponsibilityin the conduct of business in this state or elsewhere;
(9) Having an insurance producer license, or its equivalent, denied,suspended or revoked in any other state, province, district or territory;
(10) Signing the name of another to an application for insurance orto any document related to an insurance transaction without authorization;
(11) Improperly using notes or any other reference material tocomplete an examination for an insurance license;
(12) Knowingly acting as an insurance producer when not licensed oraccepting insurance business from an individual knowing that person is notlicensed;
(13) Failing to comply with an administrative or court order imposinga child support obligation; or
(14) Failing to comply with any administrative or court orderdirecting payment of state or federal income tax.
2. In the event that the action by the director is not to renew or todeny an application for a license, the director shall notify the applicantor licensee in writing and advise the applicant or licensee of the reasonfor the denial or nonrenewal. Appeal of the nonrenewal or denial of theapplication for a license shall be made pursuant to the provisions ofchapter 621, RSMo.
3. The license of a business entity licensed as an insurance producermay be suspended, revoked, renewal refused or an application may be refusedif the director finds that a violation by an individual insurance producerwas known or should have been known by one or more of the partners,officers or managers acting on behalf of the business entity and theviolation was neither reported to the director nor corrective action taken.
4. The director may also revoke or suspend pursuant to subsection 1of this section any license issued by the director where the licensee hasfailed to renew or has surrendered such license.
5. Every insurance producer licensed in this state shall notify thedirector of any change of address, on forms prescribed by the director,within thirty days of the change. If the failure to notify the director ofthe change of address results in an inability to serve the insuranceproducer with a complaint as provided by sections 621.045 to 621.198, RSMo,then the director may immediately revoke the license of the insuranceproducer until such time as service may be obtained.
6. An insurance producer shall report to the director anyadministrative action taken against the producer in another jurisdiction orby another governmental agency in this state within thirty days of thefinal disposition of the matter. This report shall include a copy of theorder, consent order or other relevant legal documents.
7. Within thirty days of the initial pretrial hearing date, aproducer shall report to the director any criminal prosecution for a felonyor a crime involving moral turpitude of the producer taken in anyjurisdiction. The report shall include a copy of the indictment orinformation filed, the order resulting from the hearing and any otherrelevant legal documents.
(L. 1961 p. 504 § 11, L. 1965 p. 569 § 375.028, A.L. 1967 p. 516, A.L. 1981 S.B. 10, A.L. 1984 S.B. 570, A.L. 1989 H.B. 615 & 563, A.L. 1993 H.B. 709, A.L. 2001 S.B. 193)Effective 1-01-03