TITLE XXXVII
INSURANCE

CHAPTER 402-J
PRODUCER LICENSING

Section 402-J:12

    402-J:12 License Denial, Nonrenewal, or Revocation. –
I. The commissioner may place on probation, suspend, revoke, or refuse to issue or renew an insurance producer's license, or may levy an administrative fine not to exceed $2,500 per violation, in accordance with RSA 400-A:15, III or any combination of actions for any one or more of the following causes:
(a) Providing incorrect, misleading, incomplete, or materially untrue information in the license application.
(b) Violating any insurance laws, or violating any rule, regulation, subpoena, or order of the commissioner or of another state's insurance commissioner.
(c) Obtaining or attempting to obtain a license through misrepresentation or fraud.
(d) Improperly withholding, misappropriating, or converting any moneys or properties in the course of doing insurance business.
(e) Intentionally misrepresenting the terms of an actual or proposed insurance contract or application for insurance.
(f) Having been convicted of a felony.
(g) Having admitted or been found to have committed any insurance unfair trade practice or fraud.
(h) Using fraudulent, coercive, or dishonest practices, or demonstrating incompetence, untrustworthiness or financial irresponsibility in the conduct of business in this state or elsewhere.
(i) Having an insurance producer license, or its equivalent, denied, suspended, or revoked in any other state, province, district, or territory.
(j) Forging another's name to an application for insurance or to any document related to an insurance transaction.
(k) Improperly using notes or any other reference material to complete an examination for an insurance license.
(l) Knowingly accepting insurance business from an individual who is not licensed.
(m) Failing to comply with an administrative or court order imposing a child support obligation.
II. In the event that the action by the commissioner is to nonrenew or to deny an application for a license, the commissioner shall notify the applicant or licensee and advise, in writing, the applicant or licensee of the reason for the denial or nonrenewal of the applicant's or licensee's license. The applicant or licensee may make written demand upon the commissioner for a hearing before the commissioner to determine the reasonableness of the commissioner's action pursuant to RSA 400-A:17.
III. The license of a business entity may be suspended, revoked, or refused if the commissioner finds, after hearing, that an individual licensee's violation was known or should have been known by one or more of the partners, officers, or managers acting on behalf of the partnership or corporation and the violation was neither reported to the commissioner nor had any corrective action taken.
IV. In addition to or in lieu of any applicable denial, suspension, or revocation of a license, a person may, after hearing, be subject to an administrative fine pursuant to RSA 400-A:15, III.
V. The commissioner shall retain the authority to enforce the provisions of and impose any penalty or remedy authorized by this chapter and title XXXVII against any person who is under investigation for or charged with a violation of this chapter or title XXXVII even if such person's license or registration has been surrendered or has lapsed by operation of law.

Source. 2000, 315:1. 2001, 95:1, eff. Aug. 20, 2001. 2020, 37:48, eff. Sept. 27, 2020.