(a) After notice and hearing, the Insurance Commissioner may suspend or revoke the certificate of authority to transact business in this state of any insurer who fails to pay an assessment when due.
(b) As an alternative, the commissioner may levy a fine on any member insurer which fails to pay an assessment when due. The fine shall not exceed one hundred dollars ($100) per day.
(c) Any insurer whose certificate of authority to do business in this state is cancelled or surrendered shall be liable for any unpaid assessments made prior to the date of the cancellation or surrender.
Section: Previous 23-90-106 23-90-107 23-90-108 23-90-109 23-90-110 23-90-111 23-90-112 23-90-113 23-90-114 23-90-115 23-90-116 23-90-117 23-90-118 23-90-119 23-90-120 NextLast modified: November 15, 2016