§431:3-218  Procedure upon revocation; suspension of certificate of authority.  Upon revoking, suspending, or refusing to extend an insurer's authority to transact insurance, the commissioner shall forthwith:

     (1)  Give notice thereof to the insurer not fewer than ten days in advance of the effective date of the revocation or suspension;

     (2)  Likewise revoke or suspend all producers' authority to represent the insurer in this State and give notice thereof to the producers; and

     (3)  Give notice thereof to the insurance supervisory official of each other state in which the insurer is authorized to transact insurance; provided that notice to the National Association of Insurance Commissioners shall satisfy this requirement. [L 1987, c 347, pt of §2; am L 2001, c 216, §6; am L 2004, c 122, §11]