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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 379

Effective - 28 Aug 1947 bottom

  379.485.  Penalties for failure to comply — powers of director. — 1.  If any rating organization or insurer shall fail to comply with an order of the director lawfully made by him under section 379.480, the director may, in addition to other penalties provided in sections 379.420 to 379.510 or any other law, suspend or revoke the license of such rating organization or insurer with respect to the class or classes of insurance as to which there is such failure to comply.

  2.  No penalty provided in sections 379.420 to 379.510 or any suspension or revocation of license as herein provided shall be imposed except upon a written order of the director stating his findings.

  3.  The director's power to suspend or revoke shall include the power to modify, rescind, or reverse such suspension or revocation.

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(L. 1947 V. II p. 254 § 4)


---- end of effective   28 Aug 1947 ----

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