2008 Minnesota Statutes

60A.965 LICENSE REVOCATION.

Subdivision 1.Revocation.

The commissioner may suspend, revoke, or refuse to renew the license of a viatical settlement provider if the commissioner finds that:

(1) there was any misrepresentation in the application for the license;

(2) the holder of the license has been found guilty of fraudulent or dishonest practices, is subject to a final administrative action or is otherwise shown to be untrustworthy or incompetent to act as a viatical settlement provider;

(3) the licensee demonstrates a pattern of unreasonable payments to policy owners;

(4) the licensee has been convicted of a felony or a misdemeanor of which criminal fraud is an element; or

(5) the licensee has violated any of the provisions of sections 60A.961 to 60A.974.

Subd. 2.Administrative action.

Section 45.027 applies to any action taken by the commissioner in connection with the administration of sections 60A.961 to 60A.974.

History:

1995 c 151 s 6