953c

The license of a producer shall be cancelled through a written petition submitted to the Commissioner by the producer or in the case of a producer contracted as authorized representative, by the latter or by the insurer who subscribed such as contract. If the petition is submitted by the insurer, it shall set forth the reasons for said cancellation and must be accompanied by evidence attesting that the insurer has mailed a notice of said petition to the producer. Should the Commissioner consider that the reasons set forth by the insurer show that the producer does not meet the requirements of § 950i of this title, the Commissioner shall notify the producer about the cancellation of his/her license at least fifteen (15) days before the effective date of the cancellation, subject to the right of the producer to be heard. History —Ins. Code, added as § 9.430 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.