HRS §431:3-218
What happens when an insurer's license is taken away
When the insurance commissioner revokes, suspends, or refuses to renew an insurer's license, the commissioner must tell the insurer at least ten days before it takes effect. The commissioner must also cancel the licenses of all producers who work for that insurer and notify them, plus tell other states' insurance regulators.
state agencies
The statute, as written — Procedure upon revocation; suspension of certificate of authority
Upon revoking, suspending, or refusing to extend an insurer's authority to transact insurance, the commissioner shall forthwith: (1) Give notice thereof to the insurer not fewer than ten days in advance of the effective date of the revocation or suspension; (2) Likewise revoke or suspend all producers' authority to represent the insurer in this State and give notice thereof to the producers; and (3) Give notice thereof to the insurance supervisory official of each other state in which the insurer is authorized to transact insurance; provided that notice to the National Association of Insurance Commissioners shall satisfy this requirement.
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