§431:3-218 Procedure upon revocation; suspension of certificate of authority. Upon revoking, suspending, or refusing to extend an insurer's authority to transact insurance, the commissioner shall forthwith:
(1) Give notice thereof to the insurer not fewer than ten days in advance of the effective date of the revocation or suspension;
(2) Likewise revoke or suspend all producers' authority to represent the insurer in this State and give notice thereof to the producers; and
(3) Give notice thereof to the insurance supervisory official of each other state in which the insurer is authorized to transact insurance; provided that notice to the National Association of Insurance Commissioners shall satisfy this requirement. [L 1987, c 347, pt of §2; am L 2001, c 216, §6; am L 2004, c 122, §11]
Section: Previous 431-3-212 431-3-212.5 431-3-213 431-3-214 431-3-215 431-3-216 431-3-217 431-3-218 431-3-219 431-3-220 431-3-221 431-3-301 431-3-302 431-3-302.5 431-3-303 NextLast modified: October 27, 2016