Sec. 38a-150. (Formerly Sec. 38-39). Monopoly. Complaint and hearing. Cease and desist order.
Sec. 38a-150. (Formerly Sec. 38-39). Monopoly. Complaint and hearing.
Cease and desist order. (a) Whenever the commissioner has reason to believe that
there is a violation of section 38a-146 or 38a-149, he shall serve upon the insurance
corporation or director concerned a complaint stating the commissioner's charge in that
respect, to which complaint there shall be attached, or in which there shall be contained,
a notice of hearing specifying the time and place of such hearing, which shall be not
less than thirty days after the service of such complaint, and requiring such insurance
corporation or director to show cause why an order should not be made by the commissioner directing such insurance corporation or director to cease and desist from such
violation. Such insurance corporation or director so complained of may, at the time and
place so fixed, show cause why such an order should not be entered. The evidence taken
at such a hearing shall be reduced to writing and made a part of the record therein.
(b) If upon such hearing the commissioner finds that there has been a violation of
section 38a-146 or 38a-149, he shall issue and cause to be served upon such insurance
corporation or director an order reciting the facts found by the commissioner and the
respects in which there has been a violation of section 38a-146 or 38a-149, and directing
such insurance corporation or director to cease and desist from such violation.
(c) Any finding and order of the commissioner shall be subject to appeal in accordance with the provisions of section 4-183, except venue for such appeal shall be in the
judicial district of New Britain.
(d) Nothing contained in section 38a-146, 38a-149 or this section shall authorize
any order, judgment or decree directing any insurance company to divest itself of the
stock or other capital of another insurance corporation. Nothing in said sections shall
affect any statute relating to the investments of any domestic life insurance company.
(1949 Rev., S. 6095; P.A. 77-603, S. 26, 125; P.A. 78-280, S. 6, 127; P.A. 88-230, S. 1, 12; P.A. 90-98, S. 1, 2; P.A.
93-142, S. 4, 7, 8; P.A. 95-220, S. 4-6; P.A. 99-215, S. 24, 29.)
History: P.A. 77-603 replaced previous detailed appeal provisions in Subsec. (c) with provision requiring that appeals
be made in accordance with Sec. 4-183 but retaining venue in Hartford county; P.A. 78-280 replaced "Hartford county"
with "judicial district of Hartford-New Britain"; P.A. 88-230 replaced "judicial district of Hartford-New Britain" with
"judicial district of Hartford", effective September 1, 1991; P.A. 90-98 changed the effective date of P.A. 88-230 from
September 1, 1991, to September 1, 1993; Sec. 38-39 transferred to Sec. 38a-150 in 1991; P.A. 93-142 changed the effective
date of P.A. 88-230 from September 1, 1993, to September 1, 1996, effective June 14, 1993; P.A. 95-220 changed the
effective date of P.A. 88-230 from September 1, 1996, to September 1, 1998, effective July 1, 1995; P.A. 99-215 replaced
"judicial district of Hartford" with "judicial district of New Britain" in Subsec. (c), effective June 29, 1999.