§ 2401. Purpose. The purpose of this article is to regulate trade practices in the business of insurance, including the business of life settlements, in accordance with the intent of congress as expressed in Public Law 15, 79th Congress, by defining, or providing for the determination of, all such practices in this state that constitute […]
§ 2402. Definitions. In this article: (a) “Person” means any individual and any legal entity subject to any provision of this chapter, engaged in the business of insurance in this state, including any reciprocal exchange or Lloyds insurer, or in the business of life settlements. (b) “Defined violation” means the commission by a person of […]
§ 2403. Unfair methods of competition or unfair and deceptive acts or practices prohibited. No person shall engage in this state in any trade practice constituting a defined violation or a determined violation as defined herein.
§ 2404. Power of superintendent. The superintendent is empowered to examine and investigate into the affairs of any person in order to determine whether the person has violated or is violating section two thousand four hundred three of this article. In the event any person does not provide a good faith response to a request […]
§ 2405. Hearings and reports on defined violations and determined violations. (a) Whenever the superintendent has reason to believe that a person has committed or is committing a defined violation or has been engaged in or is engaging in any method of competition, or any act or practice, could become a determined violation and that […]
§ 2406. Procedure after report; defined violation. (a) If the hearing was on a charge of a defined violation the superintendent shall make an order on his report and serve a copy of the findings and order upon the person charged with the violation and any intervenor. If the superintendent finds that the person complained […]
§ 2407. Procedure after report; determined violation. (a) If the report charges a determined violation and if the method of competition, act or practice constituting such determined violation has not been discontinued, the superintendent may, through the attorney general, at any time after the service of the report cause an action to be instituted to […]
§ 2408. Judicial review by intervenor. If the report of the superintendent made pursuant to subsection (c) of section two thousand four hundred five of this article or the order of the superintendent made pursuant to subsection (a) of section two thousand four hundred six of this article does not charge a violation of this […]
§ 2409. Effect on other powers and laws. (a) The powers vested in the superintendent by this article shall be additional to any other powers to enforce any penalties, fines or forfeitures authorized by law with respect to the methods, acts and practices defined in section two thousand four hundred two of this article as […]
