§ 27-6-9-16 — Refusal to issue license; conditions; summary

(a) The commissioner may refuse to issue a
reinsurance intermediary license if, in the commissioner's judgment:
(1) the applicant, anyone named on the application, or any
member, principal, officer, or director of the applicant, is not
trustworthy;
(2) any controlling person of the applicant is not trustworthy to act
as a reinsurance intermediary; or
(3) any of the foregoing has given cause for revocation or
suspension of such license, or has failed to comply with any
prerequisite for the issuance of such license.
(b) Upon written request therefor, the commissioner shall furnish a
summary of the basis for refusal to issue a license. A summary
furnished under this subsection is declared confidential for the
purposes of IC 5-14-3-4(a)(1) and is not subject to inspection and
copying as a public record.

Legislative History

As added by P.L.26-1991, SEC.26. Amended by P.L.1-2002, SEC.110.