Section 58-18-91 - Suspension or revocation of authorization of multiple employer trust--Action in lieu of suspension or revocation.
58-18-91. Suspension or revocation of authorization of multiple employer trust--Action in lieu of suspension or revocation. A multiple employer trust authorized by §§ 58-18-88 to 58-18-94, inclusive, and § 58-18B-59 may have its authorization suspended or revoked by the director for violating any provision of §§ 58-18-88 to 58-18-94, inclusive, and § 58-18B-59 or because its capital is impaired, and in either instance the director may take action in lieu of suspension or revocation as though the trust were an insurer as provided by § 58-4-28.1.
Source: SL 2005, ch 272, § 5.