Commissioner to issue written order stating reasons for disapproval and date by which insurer must discontinue use of rate. If the Commissioner disapproves a rate, he shall issue a written order stating the reasons for the disapproval and stating the date when the rate must no longer be used for policies which are issued or renewed. The date established by the Commissioner must be within a reasonable period after the written order is issued. The Commissioner shall issue his order within 30 days after the hearing. The Commissioner may require that the premiums be adjusted after the date of the order for those policies in effect on the date of his order.
Last modified: February 27, 2006