33-16-111. Issuance of order -- suspension or revocation of certificate of authority or license.
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/mt/title-33/chapter-16/part-1/33-16-111·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
33-16-111 . Issuance of order -- suspension or revocation of certificate of authority or license. If, after a hearing pursuant to 33-16-206 , the commissioner finds:
(1)that an insurer, a rating organization, an advisory organization, or a group, association, or other organization of insurers that engages in joint underwriting or joint reinsurance is in violation of the provisions of this chapter applicable to it, other than the provisions dealing with rates, rating plans, or rating systems, the commissioner may issue an order to the insurer, organization, group, or association that has been the subject of the hearing, specifying in what respects the violation exists and requiring compliance within a reasonable time;
(2)that the violation of any of the provisions of this chapter applicable to it by any insurer or rating organization that has been the subject of hearing was willful, the commissioner may suspend or revoke, in whole or in part, the certificate of authority of the insurer or the license of the rating organization with respect to the class of insurance that has been the subject matter of the hearing;
(3)that any rating organization has willfully engaged in any fraudulent or dishonest act or practices, the commissioner may suspend or revoke, in whole or in part, the license of the organization, in addition to any other penalty provided in this chapter.