58-25-18. Suspension of license of insurer--Failure to comply with order of director--Time of taking effect--Duration. The director may suspend the license of any insurer who fails to comply with any lawful order of the director within the time limited by such order, or any extension thereof which the director may grant. The director shall not suspend the license of any insurer for failure to comply with an order until the time prescribed for an appeal therefrom has expired or, if any appeal has been taken, until such order has been affirmed. The director may determine when a suspension of license shall become effective, and it shall remain in effect for a period fixed by him, unless he modifies or rescinds such suspension, or until the order upon which such suspension is based is modified, rescinded, or reversed.
Source: SL 1966, ch 111, ch 14, § 6 (2).
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