§431:3-218 Procedure upon revocation; suspension of certificate of authority. [Section effective until June 30, 2001. For section effective July 1, 2002, see below.] 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 less than ten days in advance of the effective date of the revocation or suspension.
(2) Likewise revoke or suspend all agents' authority to represent the insurer in this State and give notice thereof to the agents.
(3) Give notice thereof to the insurance supervisory official of each other state in which the insurer is authorized to transact insurance. [L 1987, c 347, pt of §2]
§431:3-218 Procedure upon revocation; suspension of certificate of authority. [Section effective July 1, 2002. For section effective until June 30, 2002, see above.] 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 less 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. [L 1987, c 347, pt of §2; am L 2001, c 216, §6]