Section 760 IAC 1-75-10 - EnforcementAuthority: IC 20-42.5-2-1
Affected: IC 4-21.5-3; IC 4-21.5-5; IC 27-4-1-4.5
Sec. 10.
(a) The commissioner may deny, suspend, or revoke a certificate of registration if the commissioner finds that the risk pool has failed to meet the requirements of this rule or any applicable statute. If a risk pool's certificate of registration is denied, suspended, or revoked under this subsection, the commissioner shall notify the risk pool and advise the risk pool in writing of the reasons for the denial, suspension, or revocation. Not later than sixty (60) days after receiving a notice from the commissioner under this subsection, the risk pool may make a written demand upon the commissioner for a hearing to determine the reasonableness of the commissioner's action. The hearing shall be:(1) held within sixty (60) days from the date of receipt of the written demand of the risk pool; and(2) conducted in accordance with IC 4-21.5-3. A final order of the commissioner is a final order subject to judicial review under IC 4-21.5-5.
(b) The commissioner shall deny, suspend, or revoke the certificate of registration of a risk pool if the commissioner finds the risk pool has:(1) a negative fund balance;(2) refused to: (B) produce the risk pool's accounts, records, and files for examination or any of the risk pool's officers have refused to give information with respect to the risk pool's affairs to perform any other legal obligation as to such examination when required by the commissioner; or(3) failed to:(A) pay a final judgment rendered against it in court within thirty (30) days; or(B) post the assigned appeal bond.Department of Insurance; 760 IAC 1-75-10; filed Apr 14, 2008, 10:28 a.m.: 20080514-IR-760070144FRAReadopted filed 11/17/2014, 3:39 p.m.: 20141217-IR-760140197RFAReadopted filed 11/24/2020, 10:27 a.m.: 20201223-IR-760200464RFA