§431:3-216  Mandatory refusal, suspension orrevocation provisions.  The commissioner shall suspend, revoke, or refuseto extend an insurer's certificate of authority in addition to other grounds inthis code, if the insurer:

(1)  Is a domestic stock insurer and has assets lessin amount than its liabilities, including its capital stock less amountsrequired for the class of insurance or combination of classes of insurance as aliability, and has failed to make good such deficiency as required by the commissioner.

(2)  Is a domestic mutual or domestic reciprocalinsurer, and fails to make good a deficiency of assets as required by thecommissioner.

(3)  Is a foreign or alien insurer and no longerqualifies or meets the requirements for the authority.

(4)  Knowingly exceeds its charter powers or itscertificate of authority. [L 1987, c 347, pt of §2]