§431:4-114 Revocation of solicitation permit. (a) The commissioner shall revoke a solicitation permit if requested in writing by:
(1) A majority of the incorporators and at least two-thirds of the subscribers to stock or applicants for insurance in the proposed incorporated insurer or corporation; or
(2) A majority of the subscribers of a proposed reciprocal insurer.
(b) The commissioner may, for cause, modify a solicitation permit, or may, after a hearing, revoke any solicitation permit for:
(1) Violation of this code;
(2) Violation of the terms of the permit;
(3) Violation of any proper order of the commissioner; or
(4) Misrepresentation. [L 1987, c 347, pt of §2]
Section: Previous 431-4-107 431-4-108 431-4-109 431-4-110 431-4-111 431-4-112 431-4-113 431-4-114 431-4-115 431-4-116 431-4-117 431-4-118 431-4-119 431-4-120 431-4-121 NextLast modified: October 27, 2016