(a) The commissioner may refuse to issue a reinsurance intermediary license if, in the commissioner's judgment:
- (1) the applicant, anyone named on the application, or any member, principal, officer, or director of the applicant, is not trustworthy;
- (2) any controlling person of the applicant is not trustworthy to act as a reinsurance intermediary; or
- (3) any of the foregoing has given cause for revocation or suspension of such license, or has failed to comply with any prerequisite for the issuance of such license.
- (b) Upon written request therefor, the commissioner shall furnish a summary of the basis for refusal to issue a license. A summary furnished under this subsection is declared confidential for the purposes of IC 5-14-3-4 (a)(1) and is not subject to inspection and copying as a public record.
As added by P.L.26-1991, SEC.26. Amended by P.L.1-2002, SEC.110.