§ 83-49-11. Revocation, suspension or refusal to renew sponsor’s or representative’s license; grounds; procedure; alternative penalties; subsequent application; review

MS Code § 83-49-11 (2019) (N/A)

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(a) Any license issued to such sponsor or representative of such sponsor was obtained by fraud;

(b) There was any misrepresentation in the application for the license;

(c) The sponsor or representative of such sponsor has otherwise shown itself untrustworthy or incompetent to act as a sponsor or representative of such sponsor;

(d) Such sponsor or representative of such sponsor has violated any of the provisions of this chapter or of the rules and regulations of the commissioner;

(e) The sponsor or representative of such sponsor has misappropriated, converted, illegally withheld, or refused to pay over upon proper demand any moneys entrusted to the sponsor or representative of such sponsor in its fiduciary capacity belonging to an insurer or insured;

(f) The sponsor or representative of such sponsor is found to be in an unsound condition or in such condition as to render the future transaction of business in this state hazardous to the public; or

(g) The sponsor or representative of such sponsor is found guilty of fraudulent, deceptive, unfair or dishonest practices as defined in Section 83-5-35 or 83-5-45, Mississippi Code of 1972, or has been convicted of a felony.

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§ 83-49-9. Investigation of sponsor license applicants; qualifications for license; notice of denial; hearing

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§ 83-49-13. Subscription contract; required contents; referrals to attorneys; filing and approval of contracts