This text of Louisiana § 22:1654 (Grounds for denial, suspension, or revocation of license) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§1654. Grounds for denial, suspension, or revocation of license
A. The commissioner shall suspend or revoke the license of an administrator, deny
the application for a license, or, in lieu thereof, impose a fine for each separate violation not
to exceed five thousand dollars per violation or twenty-five thousand dollars in the aggregate
if the commissioner finds that the administrator:
(1)Is using methods or practices in the conduct of its business that render its further
transaction of business in this state hazardous or injurious to insured persons or the public.
(2)Has failed to pay any judgment rendered against it in this state within sixty days
after the judgment has become final.
B. The commissioner may suspend or revoke the license of an administrator, deny
the application for a l
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§1654. Grounds for denial, suspension, or revocation of license
A. The commissioner shall suspend or revoke the license of an administrator, deny
the application for a license, or, in lieu thereof, impose a fine for each separate violation not
to exceed five thousand dollars per violation or twenty-five thousand dollars in the aggregate
if the commissioner finds that the administrator:
(1) Is using methods or practices in the conduct of its business that render its further
transaction of business in this state hazardous or injurious to insured persons or the public.
(2) Has failed to pay any judgment rendered against it in this state within sixty days
after the judgment has become final.
B. The commissioner may suspend or revoke the license of an administrator, deny
the application for a license, or, in lieu thereof, impose a fine not to exceed five thousand
dollars per violation or twenty-five thousand dollars in the aggregate, if the commissioner
finds that the administrator:
(1) Has violated any lawful rule or order of the commissioner or any provision of the
insurance laws of this state.
(2) Has refused to be examined or to produce its accounts, records, and files for
examination or if any of its officers has refused to give information with respect to its affairs
or has refused to perform any other legal obligations as to such examination, when required
by the commissioner.
(3) Has, without just cause, refused to pay proper claims or perform services arising
under its contracts or has, without just cause, caused covered individuals to accept less than
the amount due them or caused covered individuals to employ attorneys or bring suit against
the administrator to secure full payment or settlement of such claims.
(4) Is affiliated with or under the same general management or interlocking
directorate or ownership as another administrator or insurer which unlawfully transacts
business in this state without having a certificate of authority.
(5) At any time fails to meet any qualification for which issuance of the license
could have been refused had such failure then existed and been known to the commissioner.
(6) Has been convicted of, or has entered a plea of guilty or nolo contendere to, a
felony without regard to whether adjudication was withheld.
(7) Is under suspension or revocation in another state.
(8) Has provided incorrect, misleading, incomplete, or materially false information
or omitted material information in the license application or annual report.
C. The commissioner may, in his discretion and without advance notice or hearing
thereon, immediately suspend the certificate of any administrator if the commissioner finds
that either of the following circumstances exist:
(1) A proceeding for receivership, conservatorship, rehabilitation, or other
delinquency proceeding regarding the administrator has been commenced in any state.
(2) The financial condition or business practices of the administrator otherwise pose
an imminent threat to the public health, safety, or welfare of the residents of this state.