§ 27-4-3-3 — Violations; license suspension; public hearing; appeal

Indiana § 27-4-3-3

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 4: UNFAIR COMPETITION; UNAUTHORIZED
• Ch. 3: Restrictions on Unlawful Insurance Producer

Text

For violation of any provision of this chapter,
the license of the offending company or insurance producer to transact
the business of insurance within the state of Indiana shall be suspended
for a period of three (3) years. Whenever information of any such
violation shall come to the knowledge of the commissioner of
insurance, the commissioner shall issue an order fixing a day certain,
not more than thirty (30) nor less than twenty (20) days from the
making thereof, upon which the offender shall appear and show cause
why such penalty should not be enforced, such order specifying with
reasonable certainty the violation charged, and if, after hearing, the
commissioner shall determine that the company or insurance producer
is guilty of such violation, the commissioner shall forthwith suspend
the license of the offender for a period of three (3) years. Such hearing
shall be public, and at any such hearing any person or corporation
having lodged information of such violation with the commissioner
shall be entitled to be present and submit evidence. Within thirty (30)
days after the suspension of any such license, the insurance producer
or company whose license has been suspended may appeal from the
ruling of the commissioner of insurance to the circuit or superior court
of the county in which the insurance producer resides or in which such
company has its principal place of business, and if such company be a
foreign insurance company then such appeal may be taken by such
company to the circuit or superior court of Marion County.
Formerly: Acts 1937, c.46, s.3. As amended by P.L.252-1985,
SEC.158; P.L.178-2003, SEC.38.