Section 23-72-106 - Refusal, suspension, or revocation of certificate of authority

The Insurance Commissioner shall refuse to continue or shall suspend or revoke the certificate of authority of any such insurer for any of the following causes:(1) If, during the preceding calendar year, the insurer scaled and reduced its accrued beneficial claims by reason of insufficient yield of assessment or revenues;(2) If the insurer has exceeded its powers;(3) If the insurer has surplus of less than ten thousand dollars ($10,000) or has fewer than two thousand (2,000) members regularly paying their assessments; or(4) For other causes specified in §§ 23-63-212 and 23-63-213.Acts 1959, No. 148, § 561; A.S.A. 1947, § 66-4506.