20-374. Revocation and suspension of
licenses
The director may suspend the license of any rating organization or the certificate
of authority of any insurer which fails to comply with an order of the director made
pursuant to this article within the time limited by the order, or any extension thereof
which may be granted by the director. The director shall not suspend the license of any
rating organization or the certificate of authority of any insurer for failure to comply
with an order until the time prescribed for a review thereof has expired, or if a review
has been sought, until the order has been affirmed. The director may determine when a
suspension of license or certificate shall become effective, and it shall remain in
effect for the period fixed by him, unless he modifies or rescinds the suspension, or
until the order upon which suspension is based is modified, rescinded or reversed. No
license or certificate shall be suspended or revoked except upon the written order of the
director stating his findings, made after a hearing held upon not less than ten days
written notice to such person or organization, specifying the alleged violation.
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