Whenever it appears to the superintendent that any person has violated a provision of Chapter 59A, Article 37 NMSA 1978 which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the superintendent may, after giving notice and an opportunity to be heard, suspend, revoke or refuse to continue the insurer's certificate of authority to do business in this state for such period as he finds necessary for protection of policyholders or the public. Any such order shall be accompanied by specific findings of fact and conclusions of law.
History: Laws 1984, ch. 127, § 643; 1993, ch. 320, § 89.
The 1993 amendment, effective June 18, 1993, substituted "Chapter 59A, Article 37 NMSA 1978 which" for "this article and which" in the first sentence; and substituted "order" for "determination" in the second sentence.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 43 Am. Jur. 2d Insurance § 57.
44 C.J.S. Insurance §§ 96, 97.
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