§ 27-1-6-17 — Examination of proposed companies; revocation and renewal of permit and insurance producer's authority

The commissioner may, personally or through
the commissioner's deputies and assistants, examine into the affairs of
any such proposed company and inspect its books and papers, and may
summon and examine under oath any officer or insurance producer or
any person who is or has been connected with such company, and if the
commissioner finds the company is violating the law, or if the company
shall not be qualified for a certificate of authority within one (1) year
from date of its permit, the commissioner may revoke its permit; and
if the commissioner finds an insurance producer of such company has
violated the law, the commissioner may revoke the insurance
producer's authority, and the commissioner may for the insurance
producer's violation revoke the company's permit. Any revocation shall
be after notice and hearing. The commissioner may renew any
company's permit or agent's authority which the commissioner has
revoked.
Formerly: Acts 1935, c.162, s.76. As amended by P.L.178-2003,
SEC.14.