17-2253.   Suspension or revocation of authority to guarantee shares; hearing.If the administrator, at any time for good cause shown after a hearing oran opportunity for a hearing has been given to a guarantee corporation inaccordance with the provisions of the Kansas administrative procedure act,shall determine that such guarantee corporation has violated any provisionsof this act, is insolvent, its assets are less than its liabilities, itrefuses to submit to an examination by the administrator or it istransacting business fraudulently, the administrator may thereupon revokeor suspend its authority to write contracts or give warning that suchaction will occur if the cause or causes of revocation or suspension arenot corrected immediately.

      History:   L. 1975, ch. 136, § 12; L. 1981, ch. 103, § 4;L. 1988, ch. 356, § 53; July 1, 1989.