A. In accordance and compliance with R.S. 49:961, the commissioner may revoke or suspend any license required by this Subpart should he find any of the following:
(1) If any judgment in favor of a policy holder or his heir or assignees has become final and has not been paid in full within sixty days.
(2) If, in the opinion of the commissioner, the reserve for losses maintained by the insurer are insufficient to cover future losses.
(3) If, in the opinion of the commissioner, the insurer is insolvent.
(4) If the insurer refuses to allow an inspection as provided in R.S. 22:370.
B. An aggrieved party affected by the commissioner's decision, act, or order may demand a hearing in accordance with Chapter 12 of this Title, R.S. 22:2191 et seq.
Added by Acts 1978, No. 520, §1, eff. July 12, 1978; Redesignated from R.S. 22:1808 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No; Acts 2009, No. 317, §1; Acts 2009, No. 503, §1.
A. In accordance and compliance with R.S. 49:961, the commissioner may revoke or suspend any license required by this Subpart should he find any of the following:
(1) If any judgment in favor of a policy holder or his heir or assignees has become final and has not been paid in full within sixty days.
(2) If, in the opinion of the commissioner, the reserve for losses maintained by the insurer are insufficient to cover future losses.
(3) If, in the opinion of the commissioner, the insurer is insolvent.
(4) If the insurer refuses to allow an inspection as provided in R.S. 22:370.
B. An aggrieved party affected by the commissioner's decision, act, or order may demand a hearing in accordance with Chapter 12 of this Title, R.S. 22:2191 et seq.
Added by Acts 1978, No. 520, §1, eff. July 12, 1978; Redesignated from R.S. 22:1808 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No; Acts 2009, No. 317, §1; Acts 2009, No. 503, §1.
A. In accordance and compliance with R.S. 49:961, the commissioner may revoke or suspend any license required by this Subpart should he find any of the following:
(1) If any judgment in favor of a policy holder or his heir or assignees has become final and has not been paid in full within sixty days.
(2) If, in the opinion of the commissioner, the reserve for losses maintained by the insurer are insufficient to cover future losses.
(3) If, in the opinion of the commissioner, the insurer is insolvent.
(4) If the insurer refuses to allow an inspection as provided in R.S. 22:370.
B. An aggrieved party affected by the commissioner's decision, act, or order may demand a hearing in accordance with Chapter 12 of this Title, R.S. 22:2191 et seq.
Added by Acts 1978, No. 520, §1, eff. July 12, 1978; Redesignated from R.S. 22:1808 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No; Acts 2009, No. 317, §1; Acts 2009, No. 503, §1.
