Sec. 24. (a) The
commissioner may suspend the license of any rating organization or
insurer which fails to comply with an order of the commissioner or
department within the time limited by such order, or any extension thereof which the commissioner may grant. The commissioner shall not suspend the license of any rating organization or insurer for failure to comply with an order until the time prescribed for an
appeal therefrom has expired or if an appeal has been taken, until such order has been
affirmed. The commissioner may determine when a suspension of license shall become effective and it shall remain in effect for the period fixed by him, unless he modifies or rescinds such suspension, or until the order upon which such suspension is based is modified, rescinded or reversed. No license shall be suspended or revoked except upon a written order of the commissioner, stating his findings, made after a hearing is held upon not less than fifteen (15) days’ written notice to the
person specifying the alleged violation.
Attorney's Note
Under the Indiana Code, punishments for crimes depend on the classification. In the case of this section:
| Class | Prison | Fine |
|---|
| Class A misdemeanor | up to 1 year | up to $5,000 |
For details, see
Ind. Code § 35-50-3-2
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Terms Used In Indiana Code 27-1-22-24
- Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- Department: means "the department of insurance" of this state. See Indiana Code 27-1-2-3
- insurer: means a company, firm, partnership, association, order, society or system making any kind or kinds of insurance and shall include associations operating as Lloyds, reciprocal or inter-insurers, or individual underwriters. See Indiana Code 27-1-2-3
- person: includes individuals, corporations, associations, and partnerships; personal pronoun includes all genders; the singular includes the plural and the plural includes the singular. See Indiana Code 27-1-2-3
Formerly: Acts 1967, c.133, s.24. As amended by Acts 1978, P.L.2, SEC.2715.
