Section 83-5-30 - Insurance business practices regulated; notice of withdrawal, cancelation, or failure to renew insurance; penalties

Any insurer selling property and casualty insurance shall not withdraw, cancel or fail to renew any line of insurance or class of business without giving notice in writing sixty (60) days in advance to the Commissioner of Insurance. Any failure to give notice may result in a fine of up to Two Thousand Five Hundred Dollars ($2,500.00) in the discretion of the Commissioner of Insurance.Laws, 1988, ch. 468, eff. 7/1/1988.