17-2253. Suspension or revocation of authority to guarantee shares; hearing.
17-2253
17-2253. Suspension or revocation of authority to guarantee shares; hearing.
If the administrator, at any time for good cause shown after a hearing or
an opportunity for a hearing has been given to a guarantee corporation in
accordance with the provisions of the Kansas administrative procedure act,
shall determine that such guarantee corporation has violated any provisions
of this act, is insolvent, its assets are less than its liabilities, it
refuses to submit to an examination by the administrator or it is
transacting business fraudulently, the administrator may thereupon revoke
or suspend its authority to write contracts or give warning that such
action will occur if the cause or causes of revocation or suspension are
not corrected immediately.
History: L. 1975, ch. 136, § 12; L. 1981, ch. 103, § 4;
L. 1988, ch. 356, § 53; July 1, 1989.