31A-21-403 - Orders terminating effectiveness of policies.
31A-21-403. Orders terminating effectiveness of policies.
Upon the commissioner's order, no mass marketed life or accident and health insuranceissued by an insurer may continue to be effected on persons in this state. The commissioner mayissue an order under this section only if he finds, after a hearing, that the total charges for theinsurance to the persons insured are unreasonable in relation to the benefits provided. Thecommissioner's findings under this section must be in writing. Orders under this section maydirect the insurer to cease effecting the insurance until the total charges for the insurance arefound by the commissioner to be reasonable in relation to the benefits provided.
Amended by Chapter 116, 2001 General Session