Sec. 38a-91ii. Suspension, revocation or refusal to renew license. - Connecticut Statutes

      Sec. 38a-91ii. Suspension, revocation or refusal to renew license. (a) The commissioner may, at any time, for cause, suspend, revoke or refuse to renew any license of a captive insurance company, or in lieu of or in addition to suspension or revocation of such license, the commissioner, after reasonable notice to and hearing of any holder of such license, may impose a fine not to exceed ten thousand dollars. Such hearings may be held by the commissioner or any person designated by the commissioner.

      (b) Any captive insurance company aggrieved by the action of the commissioner in suspending, revoking or refusing to renew a license or in imposing a fine may appeal therefrom, in accordance with the provisions of section 4-183, except venue for such appeal shall be in the judicial district of New Britain. Appeals under this section shall be privileged in respect to the order of trial assignment.

      (P.A. 08-127, S. 9.)

      History: P.A. 08-127 effective January 1, 2009.