33-20-1307 . Suspension -- revocation -- refusal to issue or renew license.
(1)The commissioner may suspend, revoke, refuse to issue, or refuse to renew a license if the commissioner determines that the licensee or applicant for a license is untrustworthy or incompetent to act as a licensee or is guilty of one or more of the following:
(a)dishonesty, fraud, or gross negligence in the conduct of business as a licensee;
(b)a pattern of unreasonable payments to policyholders or certificate holders;
(c)falsification of an application for the license or renewal of the license or misrepresentation or engagement in any other dishonest act in relation to the application;
(d)conduct resulting in a conviction of a felony under the laws of any state or of the United States;
Free access — add to your briefcase to read the full text and ask questions with AI
33-20-1307 . Suspension -- revocation -- refusal to issue or renew license. (1) The commissioner may suspend, revoke, refuse to issue, or refuse to renew a license if the commissioner determines that the licensee or applicant for a license is untrustworthy or incompetent to act as a licensee or is guilty of one or more of the following:
(a) dishonesty, fraud, or gross negligence in the conduct of business as a licensee;
(b) a pattern of unreasonable payments to policyholders or certificate holders;
(c) falsification of an application for the license or renewal of the license or misrepresentation or engagement in any other dishonest act in relation to the application;
(d) conduct resulting in a conviction of a felony under the laws of any state or of the United States;
(e) conviction of any crime, an essential element of which is dishonesty or fraud, under the laws of any state or of the United States;
(f) refusal to renew or cancellation, revocation, or suspension of authority to transact insurance or business as a viatical settlement provider, viatical settlement broker, or similar entity in another state;
(g) failure to pay a civil penalty imposed by final order of the commissioner or to carry out terms of probation set by the commissioner;
(h) refusal by a licensee to be examined or to produce accounts, records, or files for examination, refusal by any officers or employees to give information with respect to the affairs of the licensee, or refusal to perform any other legal obligation as to the examination, when required by the commissioner;
(i) affiliation with or under the same general management or interlocking directorate or ownership as another viatical settlement provider, viatical settlement broker, or insurer, any of which unlawfully transacts business in this state;
(j) failure at any time to meet any qualification for which issuance of the license could have been refused had the failure then existed and been known to the commissioner; or
(k) violation of any rule or order of the commissioner or any provision of Montana law.
(2) The commissioner may suspend or refuse to renew a license immediately and without hearing if the commissioner determines that one or both of the following circumstances exist:
(a) the licensee is insolvent;
(b) the financial condition or business practices of the licensee otherwise pose an imminent threat to the public health, safety, or welfare of the residents of this state.
(3) The commissioner may refuse to issue a license in the name of any business entity if the commissioner believes that any member, officer, employee, stockholder, or partner who may materially influence the conduct of the applicant does not meet the standards of this section.
(4) A viatical settlement provider or viatical settlement broker holding a license that has not been renewed or that has been revoked shall surrender the license to the commissioner at the commissioner's request.
(5) The commissioner may take any other administrative action authorized under Montana law in addition to or in lieu of the actions authorized under this part.