- The Commissioner shall refuse to renew or shall revoke or suspend an insurer’s certificate of authority, in addition to other grounds therefor in this title, if the insurer—
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(1) is a foreign or alien insurer and no longer qualifies or meets the requirements of the authority; or, is a domestic mutual insurer, and fails to make good a deficiency of assets as required by the Commissioner;
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(2) is a domestic stock insurer and has assets less in amount than its liabilities, including its capital stock as a liability, and has failed to make good such deficiency as required by the Commissioner;
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(3) knowingly exceeds its charter powers or its certificate of authority.
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