32.02.01.35

.35 Administrative Sanctions.

A. The Secretary may deny, suspend, or revoke a preliminary, initial, or renewal certificate of registration for cause. Cause for denial, suspension, or revocation includes, but is not limited to the following:

(1) Violations of the provisions of the Act;

(2) Violations of regulations in this chapter;

(3) Misrepresentations of fact to the Department or to subscribers;

(4) Submission of false financial information to the Department;

(5) Failure to prepare or implement an adequate corrective financial plan when found to be in financial difficulty; or

(6) Agreement terms or provisions that:

(a) Violate the Act,

(b) Violate regulations in this chapter, or

(c) Are not approved by the Department.

B. The denial, suspension, or revocation of a certificate of registration is an action of the Secretary that may be appealed in accordance with Regulation .36 of this chapter.