Sec. 16. (a) The commissioner may refuse to issue a reinsurance intermediary license if, in the commissioner’s judgment:

(1) the applicant, anyone named on the application, or any member, principal, officer, or director of the applicant, is not trustworthy;

Terms Used In Indiana Code 27-6-9-16

  • commissioner: refers to the insurance commissioner appointed under IC 27-1-1-2. See Indiana Code 27-6-9-2
  • controlling person: means any person, firm, association, limited liability company, or corporation who directly or indirectly has the power to direct or cause to be directed, the management, control, or activities of a reinsurance intermediary. See Indiana Code 27-6-9-3
  • Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
  • reinsurance intermediary: means :

    Indiana Code 27-6-9-6

(2) any controlling person of the applicant is not trustworthy to act as a reinsurance intermediary; or

(3) any of the foregoing has given cause for revocation or suspension of such license, or has failed to comply with any prerequisite for the issuance of such license.

     (b) Upon written request therefor, the commissioner shall furnish a summary of the basis for refusal to issue a license. A summary furnished under this subsection is declared confidential for the purposes of IC 5-14-3-4(a)(1) and is not subject to inspection and copying as a public record.

As added by P.L.26-1991, SEC.26. Amended by P.L.1-2002, SEC.110.

  Previous section
Next section  
 Chapter 9 Contents