§431:16-211 Duties and powers of the commissioner. [(a)] In addition to the duties and powers enumerated elsewhere in this part, the commissioner shall:
(b) The commissioner may suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this State of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative the commissioner may levy a forfeiture on any member insurer which fails to pay an assessment when due. Such forfeiture shall not exceed five per cent of the unpaid assessment per month, but no forfeiture shall be less than $100 per month.
(c) Any action of the board of directors or the association may be appealed to the commissioner by any member insurer if such appeal is taken within sixty days of the final action being appealed. If a member insurer is appealing an assessment, the amount assessed shall be paid to the association and available to meet association obligations during the pendency of an appeal. If the appeal on the assessment is upheld, the amount paid in error or excess shall be returned to the member insurer. Any final action or order of the commissioner shall be subject to judicial review in the circuit court of the first judicial circuit.
(d) The liquidator, rehabilitator or conservator of any impaired insurer may notify all interested persons of the effect of this part. [L 1987, c 347, pt of §2; am L 2004, c 122, §75]