2006 Louisiana Laws - RS 22:1808 — Revocation or suspension of license
§1808. Revocation or suspension of license
The commissioner may revoke or suspend any license required by this Part after a hearing duly called for that purpose which is conducted pursuant to the provisions of the Administrative Procedure Act contained in Title 49 of the Louisiana Revised Statutes of 1950. Causes for revocation or suspension shall be 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 commission, 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 inspection provided by R.S. 22:1810.
Added by Acts 1978, No. 520, §1, eff. July 12, 1978.
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