California Insurance Code

§ 922.42

INS § 922.42 Effective Jan 1, 2013Div. 1 · Part 2 · Ch. 1 · Art. 10

Statute text

(a)If an accredited or certified reinsurer ceases to meet the requirements for accreditation or certification, the commissioner may suspend or revoke the reinsurer’s accreditation or certification.

(b)The commissioner shall give the reinsurer notice and opportunity for hearing. The suspension or revocation shall not take effect until after the commissioner’s order on hearing, unless any of the following applies:

(1)The reinsurer waives its right to hearing.

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Legislative history

Added by Stats. 2012, Ch. 277, Sec. 6. (SB 1216) Effective January 1, 2013.