§ 27-8-3-24 — Violations; revocation of power to do business

An officer or agent of any corporation,
association, or society subject to this chapter who fails to comply with
this chapter, knowingly makes in any report or statement any false or
fraudulent statement, or refuses to permit the insurance commissioner
or any examiner duly authorized by him for the purpose to make
examination of its condition and business, books, papers, and vouchers
commits a Class C infraction. A person who fails to comply with or
violates this chapter commits a Class C infraction. If an examination of
the condition and business of any such corporation, association, or
society transacting business in this state is prevented by an offense
under this section, the insurance commissioner shall revoke the
certificate of authority issued to such corporation, association, or
society, and it is unlawful for it to do business in this state until it has
submitted to an examination, and the insurance commissioner has
issued to it a new certificate of authority authorizing it to continue
business in this state.
Formerly: Acts 1897, c.195, s.24. As amended by Acts 1978,
P.L.2, SEC.2727.