211 CMR 79.17 - Penalties
Current through Register 1466, April 1, 2022
In addition to the penalties set forth in M.G.L. c. 175A, § 18 and M.G.L. c. 175E, § 12, the Commissioner may suspend the certificate of authority or license of any Insurer or Rating Organization which fails to comply with an order of the Commissioner under M.G.L. c. 175A; M.G.L. c. 175E; or 211 CMR 79.00 within the time limited by such order, or any extension thereof which the Commissioner may grant. The Commissioner shall not suspend the certificate of authority or license of any Insurer or Rating Organization for failure to comply with an order until the time prescribed for an appeal therefrom has expired or, if an appeal has been taken, until such order has been affirmed. The Commissioner may determine when a suspension of certificate of authority or license shall become effective and it shall remain in effect for the period fixed by the Commissioner, unless the Commissioner modifies or rescinds such suspension or until the order upon which such suspension is based is modified, rescinded or reversed. No certificate of authority or license shall be suspended or revoked except upon a written order of the Commissioner, stating the findings, made after a hearing held upon not less than ten days written notice to such organization specifying the alleged violation.
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