Rhode Island General Laws 27-35-11. Revocation, suspension, or nonrenewal of insurer’s license
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Whenever it appears to the commissioner that any person has committed a violation of this chapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner may, after giving notice and an opportunity to be heard, determine to suspend, revoke, or refuse to renew the insurer’s license or authority to do business in this state for any period that he or she finds is required for the protection of policyholders or the public. That determination shall be accompanied by specific findings of fact and conclusions of law.
History of Section.
P.L. 1971, ch. 273, § 1.
Terms Used In Rhode Island General Laws 27-35-11
- commissioner: means the definition prescribed by § 42-14-5. See Rhode Island General Laws 27-35-1
- insurer: means any person or persons or corporation, partnership, or company authorized by the laws of this state to transact the business of insurance in this state, including entities organized or authorized to transact business in this state pursuant to chapters 19, 20, 20. See Rhode Island General Laws 27-35-1
- person: is a n individual, a corporation, a limited liability company, a partnership, an association, a joint stock company, a trust, an unincorporated organization, or any similar entity or any combination of the foregoing acting in concert, but shall not include any joint venture partnership exclusively engaged in owning, managing, leasing or developing real or tangible personal property. See Rhode Island General Laws 27-35-1