§ 27-6-48 - Suspension or revocation of licenses.
SECTION 27-6-48
§ 27-6-48 Suspension or revocation oflicenses. – (a) The commissioner may suspend the license of any rating organization orinsurer which fails to comply with an order of the commissioner within the timelimited by the order, or any extension which the commissioner may grant. Thecommissioner shall not suspend the license of any rating organization orinsurer for failure to comply with an order until the time prescribed for anappeal has expired or, if an appeal has been taken, until the order has beenaffirmed.
(b) The commissioner may determine when a suspension of alicense shall become effective, and it shall remain in effect for the periodfixed by the commissioner, unless he or she modifies or rescinds thatsuspension, or until the order upon which that suspension is based is modified,rescinded, or reversed.
(c) No license shall be suspended or revoked except upon awritten order of the commissioner, stating the commissioner's findings madeafter a hearing held upon not less than ten (10) days' written notice to theperson or organization specifying the alleged violation.