Sec. 38a-150. (Formerly Sec. 38-39). Monopoly. Complaint and hearing. Cease and desist order.
319 words·~1 min read·
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(a)Whenever the commissioner has reason to believe that there is a violation of section 38a-146 or 38a-149 , he shall serve upon the insurance corporation or director concerned a complaint stating the commissioner's charge in that respect, to which complaint there shall be attached, or in which there shall be contained, a notice of hearing specifying the time and place of such hearing, which shall be not less than thirty days after the service of such complaint, and requiring such insurance corporation or director to show cause why an order should not be made by the commissioner directing such insurance corporation or director to cease and desist from such violation. Such insurance corporation or director so complained of may, at the time and place so fixed, show cause why such an order should not be entered. The evidence taken at such a hearing shall be reduced to writing and made a part of the record therein.
(b)If upon such hearing the commissioner finds that there has been a violation of section 38a-146 or 38a-149 , he shall issue and cause to be served upon such insurance corporation or director an order reciting the facts found by the commissioner and the respects in which there has been a violation of section 38a-146 or 38a-149 , and directing such insurance corporation or director to cease and desist from such violation.
(c)Any finding and order of the commissioner shall be subject to appeal in accordance with the provisions of section 4-183 , except venue for such appeal shall be in the judicial district of New Britain.
(d)Nothing contained in section 38a-146 , 38a-149 or this section shall authorize any order, judgment or decree directing any insurance company to divest itself of the stock or other capital of another insurance corporation. Nothing in said sections shall affect any statute relating to the investments of any domestic life insurance company.