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



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



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



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



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



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



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



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



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



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



(c)  The holder of any license, which has been
revoked or suspended, shall surrender the license certificate to the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



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



The commissioner in receipt of a certification
pursuant to chapter 436C shall, as applicable, and without further review or
hearing:



(1)  Suspend the license;



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



(3)  Deny the request for reinstatement of the
license,



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



(e)  The commissioner may suspend, revoke, or
refuse to extend any license for any cause specified in this article by an
order:



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



(2)  Made after a hearing, conducted as provided in
section 431:2-308, effective ten days after the date the order is given to the
licensee, subject to the right of the licensee to appeal to the circuit court
of 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; am
L 2003, c 133, §7 and c 212, §54; am L 2006, c 154, §19]