§ 23-77-107 - Certificate of authority -- Suspension and revocation. - Arkansas Statutes

23-77-107. Certificate of authority -- Suspension and revocation.

(a) The Insurance Commissioner shall suspend or revoke the certificate of authority of an automobile club or association:

(1) If the action is required by any provision of this section or 23-77-101, 23-77-106, or 23-77-108;

(2) If the automobile club or association no longer meets the requirements for the authority originally granted due to a deficiency in the deposit required by 23-77-106(d)(1)(A) or the failure to maintain a deposit of securities or other assets acceptable to the commissioner in the amount prescribed by 23-77-106(d)(1)(A); or

(3) If the automobile club or association is using such methods or practices in the conduct of its business as to render its further operation in Arkansas hazardous or injurious to the public.

(b) The commissioner shall give the automobile club or association at least ten (10) days' written notice in advance of any suspension or revocation under this section.

(c) The automobile club or association may request a hearing thereon within the ten (10) days.