- A. If any sales representative is convicted by a court of a violation of any provision of the Service Warranty Insurance Act, the registration of such individual shall thereby be deemed to be immediately revoked without any further procedure relative thereto by the Insurance Commissioner.
- B. If, after an investigation or upon other evidence, the Commissioner has reason to believe that there may exist any one or more grounds for the suspension, revocation, or refusal to renew or continue the registration of any sales representative, as such grounds are specified in Sections 22 and 23 of this act, the Commissioner may proceed to suspend, revoke, or refuse to renew or continue the registration, as the case may be.
- C. If such registered sales representative also holds a license to perform professional services of the type covered by the service warranty issued, the Commissioner shall file with the regulatory authority that issued such license a recommendation that such license be suspended or revoked. Such regulatory authority shall promptly review the recommendation and take appropriate action in accordance with its laws and rules to suspend or revoke such license.
- D. Whenever it appears that any licensed insurance agent has violated the provisions of the Service Warranty Insurance Act, the Commissioner may take such action relative thereto as is authorized by the Insurance Code for a violation of the Insurance Code by such agent.
Added by Laws 1993, HB 1001, c. 108, § 24, eff. September 1, 1993.