§ 2110. Revocation or suspension of license of insurance producer,
insurance consultant, adjuster or life settlement broker. (a) The
superintendent may refuse to renew, revoke, or may suspend for a period
the superintendent determines the license of any insurance producer,
insurance consultant, adjuster or life settlement broker, if, after
notice and hearing, the superintendent determines that the licensee or
any sub-licensee has:

(1) violated any insurance laws, or violated any regulation, subpoena
or order of the superintendent or of another state's insurance
commissioner, or has violated any law in the course of his or her
dealings in such capacity;

(2) provided materially incorrect, materially misleading, materially
incomplete or materially untrue information in the license application;

(3) obtained or attempted to obtain a license through
misrepresentation or fraud;

(4)(A) used fraudulent, coercive or dishonest practices;

(B) demonstrated incompetence;

(C) demonstrated untrustworthiness; or

(D) demonstrated financial irresponsibility in the conduct of business
in this state or elsewhere;

(5) improperly withheld, misappropriated or converted any monies or
properties received in the course of business in this state or
elsewhere;

(6) intentionally misrepresented the terms of an actual or proposed
insurance contract, life settlement contract or application for
insurance;

(7) has been convicted of a felony;

(8) admitted or been found to have committed any insurance unfair
trade practice or fraud;

(9) had an insurance producer license, a life settlement broker
license, or its equivalent, denied, suspended or revoked in any other
state, province, district or territory;

(10) forged another's name to an application for insurance or life
settlement contract or to any document related to an insurance or life
settlement transaction;

(11) improperly used notes or any other reference material to complete
an examination for an insurance license or life settlement broker
license;

(12) knowingly accepted insurance business from an individual who is
not licensed;

(13) failed to comply with an administrative or court order imposing a
child support obligation;

(14) failed to pay state income tax or comply with any administrative
or court order directing payment of state income tax;

(15) while acting as a public adjuster, the licensee has failed to act
on behalf and in the best interests of the insured when negotiating for
or effecting the settlement of an insurance claim for such insured or
otherwise acting as a public adjuster, or has failed to make the
disclosures required by paragraph two of subsection (s) of section two
thousand one hundred eight of this article;

(16) while acting as a life settlement broker, failed to protect the
privacy of the insured or owner or other person for whom the life
settlement broker was required to provide protection pursuant to article
seventy-eight of this chapter; or

(17) ceased to meet the requirements for licensure under this chapter.

(b) Before revoking or suspending the license of any insurance
producer, life settlement broker or other licensee pursuant to the
provisions of this article, the superintendent shall, except when
proceeding pursuant to subsection (f) of this section, give notice to
the licensee and to every sub-licensee and shall hold, or cause to be
held, a hearing not less than ten days after the giving of such notice.

(c) If an insurance producer's license or other licensee's license
pursuant to the provisions of this article is revoked or suspended by
the superintendent, he shall forthwith give notice to the licensee.

(d) The revocation or suspension of any insurance producer's license
or other licensee's license pursuant to the provisions of this article
shall terminate forthwith such producer's license or other licensee's
license and the authority conferred thereby upon all sub-licensees.

(e) (1) No individual, corporation, firm or association whose license
as an insurance producer or other licensee subject to subsection (a) of
this section has been revoked, and no firm or association of which such
individual is a member, and no corporation of which such individual is
an officer or director, shall be entitled to obtain any license under
the provisions of this chapter for a period of one year after such
revocation, or, if such revocation be judicially reviewed, for one year
after the final determination thereof affirming the action of the
superintendent in revoking such license.

(2) If any such license held by a firm, association or corporation be
revoked, no member of such firm or association and no officer or
director of such corporation shall be entitled to obtain any license, or
to be named as a sub-licensee in any such license, for the same period
of time, unless the superintendent determines, after notice and hearing,
that such member, officer or director was not personally at fault in the
matter on account of which such license was revoked.

(f) (1) As used in this subsection, "non-resident insurance producer's
license or sub-license" means a license or sub-license in such capacity
issued pursuant to paragraph five of subsection (g) of section two
thousand one hundred three or subsection (e) of section two thousand one
hundred four of this article.

(2) A non-resident insurance producer's license or sub-license may be
summarily revoked in the event that the licensee's license as an agent,
broker, adjuster or in any other capacity under the insurance law of the
licensee's home state of domicile or such license of the firm or
association of which the licensee is a member, employee or sub-licensee,
or such license of the corporation of which the licensee is an officer,
director, employee or sub-licensee has been suspended or revoked or
renewal thereof denied in the licensee's home state of domicile by a
procedure affording to the licensee or it a statutory right to a
hearing, for action or conduct which, if it had been established upon a
hearing before the superintendent, would have constituted grounds for
revocation of a license under subsection (a) of this section.

(3) Before revoking the license of any non-resident insurance producer
in accordance with this section, the superintendent shall give ten days'
notice in writing to such producer of the action proposed to be taken,
which notice shall be given in accordance with the applicable provisions
of subsections (a) and (d) of section three hundred four of the
financial services law.

(4) Upon submission to the superintendent of satisfactory proof that a
suspension or revocation of a license issued by a home state to act as
an insurance agent, insurance broker, adjuster or in another licensed
capacity under the insurance law of such other state or a denial of
renewal thereof has been duly withdrawn, set aside, reversed or voided,
the superintendent shall thereupon reinstate and restore any and all
licenses revoked in accordance with the provisions of this subsection.

(g) If any licensed insurance producer or any person aggrieved shall
file with the superintendent a verified complaint setting forth facts
tending to show sufficient ground for the revocation or suspension of
any insurance producer's license, or if any licensed adjuster or any
person aggrieved files with the superintendent a verified complaint
setting forth facts showing sufficient grounds for the suspension or
revocation of any adjuster's license, the superintendent shall, after
notice and a hearing, determine whether such license shall be suspended
or revoked.

(h) The superintendent shall retain the authority to enforce the
provisions of and impose any penalty or remedy authorized by this
chapter against any person or entity who is under investigation for or
charged with a violation of this chapter, even if the person's or
entity's license or registration has been surrendered, or has expired or
has lapsed by operation of law.

(i) A licensee subject to this article shall report to the
superintendent any administrative action taken against the licensee in
another jurisdiction or by another governmental agency in this state
within thirty days of the final disposition of the matter. This report
shall include a copy of the order, consent to order or other relevant
legal documents.

(j) Within thirty days of the initial pretrial hearing date, a
licensee subject to this article shall report to the superintendent any
criminal prosecution of the licensee taken in any jurisdiction. The
report shall include a copy of the initial complaint filed, the order
resulting from the hearing and any other relevant legal documents.