Alaska Statutes 06.40.080 – Revocation or suspension of license

The commissioner may revoke or suspend the license of any licensee when, upon completion of an investigation, the commissioner determines that

(1) the license issued to the company was obtained by fraud;

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commissioner: means the commissioner of commerce, community, and economic development or a designee of the commissioner. See Alaska Statutes 06.40.190
Fraud: Intentional deception resulting in injury to another.
premium finance company: means a person engaged in the business of entering into premium finance agreements with borrowers or of acquiring premium finance agreements from insurance agents, brokers or other premium finance companies. See Alaska Statutes 06.40.190

(2) there was misrepresentation in the application for the license;

(3) the holder of the license has otherwise proven to be untrustworthy or incompetent to act as a premium finance company; or

(4) the licensee has violated any of the provisions of this chapter.