2005 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. 

    HIST: 1995 c 151 s 6