760 IAC 1-75-10 - Enforcement
Authority: IC 20-42.5-2-1
Affected: IC 4-21.5-3; IC 4-21.5-5; IC 27-4-1-4.5
Sec. 10.
(a) The
commissioner may deny, suspend, or revoke a certificate of registration if the
commissioner finds that the risk pool has failed to meet the requirements of
this rule or any applicable statute. If a risk pool's certificate of
registration is denied, suspended, or revoked under this subsection, the
commissioner shall notify the risk pool and advise the risk pool in writing of
the reasons for the denial, suspension, or revocation. Not later than sixty
(60) days after receiving a notice from the commissioner under this subsection,
the risk pool may make a written demand upon the commissioner for a hearing to
determine the reasonableness of the commissioner's action. The hearing shall
be:
(1) held within sixty (60) days from the
date of receipt of the written demand of the risk pool; and
(2) conducted in accordance with IC 4-21.5-3.
A final order of the commissioner is a final order subject to judicial review under IC 4-21.5-5.
(b) The commissioner shall deny, suspend, or
revoke the certificate of registration of a risk pool if the commissioner finds
the risk pool has:
(1) a negative fund
balance;
(2) refused to:
(A) be examined; or
(B) produce the risk pool's accounts,
records, and files for examination or any of the risk pool's officers have
refused to give information with respect to the risk pool's affairs to perform
any other legal obligation as to such examination when required by the
commissioner; or
(3)
failed to:
(A) pay a final judgment rendered
against it in court within thirty (30) days; or
(B) post the assigned appeal bond.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.