§431:9-235  Denial, suspension, revocationof licenses.  (a)  The commissioner may suspend, revoke, or refuse toextend any license issued under this article for any cause specified in anyother provision of this article, or for any of the following causes:

(1)  For any cause for which issuance of the licensecould have been refused had it then existed and been known to the commissioner;

(2)  If the licensee wilfully violates or knowinglyparticipates in the violation of any provision of this code;

(3)  If the licensee has obtained or attempted toobtain any license issued under this article through wilful misrepresentationor fraud, or has failed to pass any examination required by section 431:9-206;

(4)  If the licensee has misappropriated, converted tothe licensee's own use, or illegally withheld moneys required to be held in afiduciary capacity;

(5)  If the licensee, with intent to deceive, hasmaterially misrepresented the terms or effect of any insurance contract; or hasengaged or is about to engage in any fraudulent transaction;

(6)  If the licensee has been guilty of any unfairpractice or fraud as defined in article 13;

(7)  If in the conduct of the licensee's affairs underthe license, the licensee has shown oneself to be a source of injury and lossto the public; or

(8)  If the licensee has dealt with, or attempted todeal with, insurance or to exercise powers relative to insurance outside thescope of the licensee's licenses.

(b)  The license of any partnership orcorporation may be so suspended, revoked, or refused for any of the causes thatrelate to any individual designated in the license to exercise its powers.

(c)  The holder of any license, which has beenrevoked or suspended, shall surrender the license certificate to thecommissioner at the commissioner's request.

(d)  The commissioner shall not renew orreinstate, or shall deny, suspend, or revoke any license or application, if thecommissioner has received certification from an administering entity pursuantto chapter 436C that the licensee or applicant is in default or breach of anyobligation under any student loan, student loan repayment contract, orscholarship contract that financed the licensee's or applicant's education, orhas failed to comply with a repayment plan.

The commissioner in receipt of a certificationpursuant to chapter 436C shall, as applicable, and without further review orhearing:

(1)  Suspend the license;

(2)  Deny the application or request for renewal ofthe license; or

(3)  Deny the request for reinstatement of thelicense,

and unless otherwise provided by law, shall renew,reinstate, or grant the license only upon receipt of an authorization from theadministering entity.

(e)  The commissioner may suspend, revoke, orrefuse to extend any license for any cause specified in this article by anorder:

(1)  Given to the licensee not fewer than fifteen daysprior to the effective date thereof, subject to the right of the licensee tohave a hearing as provided in section 431:2-308, and pending that hearing, thelicense shall be suspended; or

(2)  Made after a hearing, conducted as provided insection 431:2-308, effective ten days after the date the order is given to thelicensee, subject to the right of the licensee to appeal to the circuit courtof the first judicial circuit of this State as provided in chapter 91. [L 1987,c 347, pt of §2; am L 1997, c 233, §4; am L 2002, c 155, §24 and c 226, §6; amL 2003, c 133, §7 and c 212, §54; am L 2006, c 154, §19]