211 CMR 148.05 - Grounds for Suspension or Revocation of Registration and Imposition of Fines

(1) The Commissioner may, after a hearing, suspend or revoke the registration of any Third-party Administrator if the Commissioner finds that:

(a) The Third-party Administrator has failed to submit to the Division required annual reporting information as set forth in 211 CMR 148.04;

(b) The Third-party Administrator has its license or registration to do business suspended or revoked by any state, including its home state;

(c) The Third-party Administrator is insolvent or impaired;

(d) A proceeding for receivership, conservatorship, rehabilitation or other delinquency proceeding regarding the Third-party Administrator has been commenced in any state; or

(e) The financial condition or business practices of the Third-party Administrator otherwise pose an imminent threat to the public health, safety or welfare of the residents of the Commonwealth.

(2) If the Commissioner finds that one or more grounds exist for the suspension or revocation of a registration issued under 211 CMR 148.00, the Commissioner may, in lieu of, or in addition to, suspension or revocation, impose a fine of not more than $1,000 for each and every violation upon the Third-party Administrator.

(3) Any Third-party Administrator which engages in business in the Commonwealth without registering in accordance with 211 CMR 148.00 may, after a hearing, be subject to a fine of not more than $1,000 for each and every violation.

Notes

211 CMR 148.05

Amended by Mass Register Issue 1351, eff. 11/3/2017.