SEC. 83-57-19. Suspension of license; reinstatement of license.
(1) A suspension of the license of a home warranty association shall be for such period, not to exceed one (1) year, as is fixed in the order of suspension, unless such suspension, or the order upon which the suspension is based, is modified, rescinded, or reversed.
(2) During the period of suspension, the association shall file its annual statement and pay fees, licenses, and taxes as required under this chapter as if the license had continued in full force.
(3) Upon expiration of the suspension period, if within such period the license has not otherwise terminated, the license of the association shall automatically be reinstated, unless it is determined, upon notice and hearing, that the causes of the suspension have not been removed or that the association is otherwise not in compliance with the requirements of this chapter.
(4) Upon reinstatement of the license of an association, or reinstatement of the certificate of authority of an insurer, following suspension, the authority of the sales representatives of the association in this state to represent the association or insurer shall likewise be reinstated. The department shall promptly notify the association.
SOURCES: Laws, 1988, ch. 525, Sec. 10, eff from and after July 1, 1988.