If a judgment shall be rendered by any court in this state against any fraternal order and such judgment shall not be paid and satisfied within ninety (90) days after the same shall have become final, it shall be the imperative duty of the insurance commissioner, immediately upon being advised that such judgment has not been paid or satisfied within the time named, to revoke any and every authority granted to such fraternal order, or any agent thereof, to transact any business in this state. No such fraternal order, or agent thereof, shall thereafter transact any business in this state until again duly licensed, and in case of such revocation no renewal license or certificate of authority to transact business in this state shall be granted to such fraternal order for three (3) years after such revocation. Whenever such license or certificate of authority shall be revoked, the insurance commissioner shall publish such revocation in some newspaper published in this state.
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