§431:4-114  Revocation of solicitation permit.  (a)  The commissioner shall revoke a solicitation permit if requested in writing by:

     (1)  A majority of the incorporators and at least two-thirds of the subscribers to stock or applicants for insurance in the proposed incorporated insurer or corporation; or

     (2)  A majority of the subscribers of a proposed reciprocal insurer.

     (b)  The commissioner may, for cause, modify a solicitation permit, or may, after a hearing, revoke any solicitation permit for:

     (1)  Violation of this code;

     (2)  Violation of the terms of the permit;

     (3)  Violation of any proper order of the commissioner; or

     (4)  Misrepresentation. [L 1987, c 347, pt of §2]