2006 Louisiana Laws - RS 22:1908 — Revocation or suspension of license
§1908. 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 conducted pursuant to the provisions of the Administrative Procedure Act contained in Title 49 of the Louisiana Revised Statutes of 1950. Any license issued under the provisions of this Part shall be revoked or suspended for the following causes:
(1) A judgment in favor of a policyholder or his heir or assignees has become final and has not been paid in full within sixty days.
(2) In the opinion of the commissioner the reserve for losses maintained by the insurer are insufficient to cover future losses.
(3) In the opinion of the commissioner, the insurer is insolvent.
(4) The insurer refuses to allow an inspection as provided in R.S. 22:1909.
Added by Acts 1981, No. 472, §1, eff. July 19, 1981.
Disclaimer: These codes may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
