La. Admin. Code tit. 37 § XIII-1133

Current through Register Vol. 50, No. 11, November 20, 2024

Section XIII-1133 - Revocation of Certificate of Authority

A. After notice and opportunity for a hearing, the commissioner may revoke a group's certificate of authority if:

1. the group is found to be insolvent;

2. the group fails to pay any premium tax, regulatory fee, or assessment, or special fund contribution imposed upon it;

3. the group fails to comply with any of the provisions of this regulation, or with any lawful order of the commissioner within the time prescribed;

4. the certificate of authority issued to the group was obtained by fraud;

5. there was a material misrepresentation in the application for the certificate of authority; or

6. the group or its administrator has misappropriated, converted, illegally withheld, or refused to pay over upon proper demand any monies held in a fiduciary capacity that belong to a member, an employee of a member, or another person.

La. Admin. Code tit. 37, § XIII-1133

Promulgated by the Department of Insurance, Office of the Commissioner, LR 18:1403 (December 1992).

AUTHORITY NOTE: Promulgated in accordance with R.S. 23:1193.