Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XIII - Regulations
Chapter 11 - Regulation Number 42-Group Self-Insurance Funds
Section XIII-1133 - Revocation of Certificate of Authority
Universal Citation: LA Admin Code XIII-1133
Current through Register Vol. 50, No. 9, September 20, 2024
A. After notice and opportunity for a hearing, the commissioner may revoke a group's certificate of authority if:
1. the group is found to be
insolvent;
2. the group fails to
pay any premium tax, regulatory fee, or assessment, or special fund
contribution imposed upon it;
3.
the group fails to comply with any of the provisions of this regulation, or
with any lawful order of the commissioner within the time prescribed;
4. the certificate of authority issued to the
group was obtained by fraud;
5.
there was a material misrepresentation in the application for the certificate
of authority; or
6. the group or
its administrator has misappropriated, converted, illegally withheld, or
refused to pay over upon proper demand any monies held in a fiduciary capacity
that belong to a member, an employee of a member, or another person.
AUTHORITY NOTE: Promulgated in accordance with R.S. 23:1193.
Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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