Section 376.1530

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 376

Effective - 28 Aug 2007   

  376.1530.  Denial and refusal to issue registrations, when. — 1.  The director may deny a registration to an applicant or refuse to renew, suspend, or revoke the registration of a registrant if the applicant or registrant, or an officer, director, or employee of the applicant or registrant:

  (1)  Makes a material misstatement or misrepresentation in an application for registration;

  (2)  Fraudulently or deceptively obtains or attempts to obtain a registration for the applicant or registrant or for another;

  (3)  Has advertised, merchandised or attempted to merchandise its services in such a manner as to misrepresent its services or capacity for service or has engaged in deceptive, misleading or unfair practices with respect to advertising or merchandising;

  (4)  In connection with the advertisement, offer, sale or administration of a health care discount program, makes any untrue statement of material fact, conceals any material fact, uses any deception or commits fraud or engages in any dishonest activity;

  (5)  Is not fulfilling its obligations as a discount medical plan organization;

  (6)  Does not have the minimum net worth as required by sections 376.1500 to 376.1532; or

  (7)  Violates any provision of sections 376.1500 to 376.1532, or any law or regulation of this state relating to insurance or the provision of medical care.

  2.  If the director has cause to believe that grounds for the suspension or revocation of a registration exist, the director shall notify the discount medical plan organization in writing, specifically stating the grounds for suspension or revocation, and shall provide opportunity for a hearing on the matter before the director.

  3.  When the registration of a discount medical plan organization is surrendered or revoked, such organization shall proceed, immediately following the effective date of the order of revocation, to wind up its affairs transacted under the registration.  The organization may not engage in any further advertising, solicitation, collecting of fees, or renewal of contracts.

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(L. 2007 H.B. 818 merged with S.B. 66)

Effective 8-28-07 (S.B. 66); 1-01-08 (H.B. 818)