§ 27-4-24.3. Suspension or revocation of licenses.
(a) The commissioner may revoke or suspend the license of any organization or insurer which fails to comply with an order of the commissioner within the time limited by the order, or any extension of it which the commissioner may grant. The commissioner shall not revoke or suspend the license of any organization or insurer for failure to comply with an order until the time prescribed for an appeal has expired or, if an appeal has been taken, until the order has been affirmed.
(b) The commissioner may determine when a suspension of license shall become effective, and it shall remain in effect for the period fixed by the commissioner, unless he or she modifies or rescinds the suspension, or until the order upon which the suspension is based is modified, rescinded, or reversed.
(c) No license shall be suspended or revoked except upon a written order of the commissioner, stating the commissioner’s findings, made after a hearing held in accordance with § 42-35-9 upon not less than ten (10) days’ written notice to the insurer or organization.
History of Section.P.L. 1973, ch. 264, § 1; P.L. 2007, ch. 134, § 1; P.L. 2007, ch. 210, § 1.
Structure Rhode Island General Laws
Chapter 27-4 - Life Insurance Policies and Reserves
Section 27-4-0.1. - Definitions.
Section 27-4-1. - Discrimination in rates or amounts payable on death.
Section 27-4-1.1. - Denial of applicant based on naloxone prescription.
Section 27-4-2. - Preexisting contracts unaffected by discrimination provisions.
Section 27-4-3. - Distinctions by insurance producers as to collections.
Section 27-4-4. - Penalty for unlawful discrimination.
Section 27-4-5. - Misrepresentation as to policies — Penalty — Revocation of license.
Section 27-4-6.1. - Right to examine and return policy.
Section 27-4-6.2. - Individual life insurance policy standard provisions.
Section 27-4-7. - Privilege against self-incrimination.
Section 27-4-9. - Preexisting contracts unaffected by policy terms provisions.
Section 27-4-10. - Effect of misstatements in application for policy.
Section 27-4-12. - Provision for exemption from encumbrance, transfer, or claims of creditors.
Section 27-4-13. - Deprivation of court jurisdiction — Limitation of actions.
Section 27-4-13.1. - Policy loan interest rates.
Section 27-4-14, 27-4-15. - Repealed.
Section 27-4-16. - Preliminary term policies.
Section 27-4-22. - Assignment of interest under group life insurance.
Section 27-4-22.1. - Continuation of group life insurance — Labor disputes — Involuntary layoffs.
Section 27-4-23. - Rules and regulations.
Section 27-4-24. - Filing of life insurance policy forms.
Section 27-4-24.1. - Waiting period — Effective date of filings.
Section 27-4-24.2. - Notice of disapproval.
Section 27-4-24.3. - Suspension or revocation of licenses.
Section 27-4-24.4. - Hearing on decisions of commissioner.
Section 27-4-24.5. - Judicial review of orders and decisions.
Section 27-4-24.6. - Severability.
Section 27-4-25. - Physical exam by insurance company.
Section 27-4-26. - Interest upon proceeds of life insurance policies.
Section 27-4-27. - Insurable interest.
Section 27-4-28. - Discretionary clauses.