§ 58-40-110. Suspension of license. - North Carolina Statutes

§ 58‑40‑110. Suspension of license.

(a)        Repealed by SessionLaws 1985, c. 666, s. 36.

(b)        Subject to therequirements of this Article and of G.S. 58‑2‑70, the Commissionermay suspend or revoke the license of any statistical organization or insurer orimpose a monetary penalty against any statistical organization or insurer where(i) the Commissioner has reason to believe that any statistical organization orinsurer has violated any provision of this Chapter, or (ii) the statisticalagent fails to comply with an order of the Commissioner within the time limitedby such order, or within any extension thereof that the Commissioner may grant.The Commissioner shall not suspend the license of any statistical organizationor insurer for failure to comply with an order until the time prescribed for anappeal therefrom has expired or, if an appeal has been taken, until the orderhas been affirmed. The Commissioner may determine when a suspension of alicense shall become effective, and the suspension shall remain in effect forthe period fixed by him unless he modifies or rescinds the suspension, or untilthe order upon which the suspension is based is modified, rescinded, orreversed.

(c)        No license shall besuspended or revoked, and no monetary penalty shall be imposed except upon awritten order of the Commissioner stating his findings, made after a hearingheld upon not less than 10 days' written notice to the person or organization,and specifying the alleged violation. (1977, c. 828, s. 2; 1985, c. 666, s. 36; 2005‑210,s. 15.)