(a) The director shall suspend or revoke an insurer's certificate of authority
(1) if the action is required by a provision of this title;
(2) if the insurer no longer meets the requirements for the authority granted, on account of the insurer becoming impaired or insolvent or otherwise; or
(3) if the insurer's authority to transact insurance is suspended or revoked by its state of domicile, or state of entry into the United States if an alien insurer.
(b) Except in cases of insolvency or impairment of required capital or surplus, or suspension or revocation by another state as referred to in (a)(3) of this section, the director shall give the insurer at least 15 days' notice in advance of a suspension or revocation under this section.Section: Previous 21.09.080 21.09.090 21.09.100 21.09.110 21.09.120 21.09.130 21.09.135 21.09.140 21.09.150 21.09.160 21.09.170 21.09.175 21.09.180 21.09.190 21.09.200 Next
Last modified: November 15, 2016