Page:United States Statutes at Large Volume 48 Part 1.djvu/1166

 1140 Lic ens e, suspension or revocation. Grounds for. Notice and bearing. Notice of ebarges and bearing to be given. Mai lin g_ A ppeal s. Denial of new license for period of year. Penalty provisions. Appeals. Proceedings. 73d C ONGRESS. SESS. II. CH. 672 . JUNE 19, 1934. termination of such employment and the cause thereof. Any infor- mation, document, record, s tatement, or thing required to be made or disclosed to the Superintendent of Insurance by this section, shall be privileged and shall not be used as evid ence in any action or proceeding instituted against the company or any representative thereof by or in behalf of any per son who has been licensed under the provisions of this section. SEC. 27. SusPENSION OR REVOCATION OF LICE NSE-GR OUNDS FOR- NonCE OF-HEARING .-The Superintendent of Insurance may su s- pend or revoke the license of any life insurance general agent, agent, soli citor, or brok er i f, a fter due inves tiga tion, not ice a nd a hea ring, either before him or before any salaried employee of the insurance department designated by him whose report he may adopt, he deter- mines that such license has been secured by fraud or misrepresenta- tion ; or that the general agent, agent, solicitor, or broker has violated any insurance law of the District ; or has made any misleading repre- sent atio ns a nd/o r in comp lete and /or frau dule nt c ompa riso n of any policies or companies or concerning any companies to any person for the purp ose or with the inte ntio n of inducing such person to lapse, forfeit, surrender, or exchange his insurance then in force ; or has made any misleading estimate of t he dividends or share o t surplus to be received on a policy ; or has failed or refused to pay or to deliver to the company or to his principal any money or other property in the hands of said gene ral agent, agent, solicitor, or broker belonging to such company or principal when requested so to do; or has violated any lawful ruling of the insurance depart- ment ; or has been convicted ofa felony ; or has otherwise shown himself untrustw orthy or incompe tent to act as a life ins urance g en- era] agent, agent, solicitor, or broker. Before the Superintendent of Insurance shall revoke or suspend any such license he shall give to the general agent, a gent, so licitor, or brok er and t o the co mpany whic h or whom he rep rese nts writ ten notice of the charges and of the hearing, not less than twenty days prior to the time set for such hearing. Such notice shall be forwarded by registered mail ad- dressed to the general agent, agent, solicitor, or broker at his last known address, and to the company at its principal place of business. Full opportunity shall be given at such hearing to the general agent, agent, solicitor, or broker and to the company or principal to appear wit h counsel and be heard up on such charges. Within thirty days after the revocation or suspension of license or the refusal of the Superintendent to grant a license, the general agent, agent solicitor, or broke r, or ap plicant aggrieve d may ap peal, fro m the ru ling of the Superintendent of Insurance to the court of competent jurisdiction designated in section 28. Appeal s may be take n from the jud gment of said court as prescribed in section 28. No individual whose license as a general agent, agent, solicitor, or broker is revoked shall be entitled to any license under this Act for a pe riod of one year after r evocatio n. Any person who violates any provision of this section upon con- viction shall be fined not exceeding $100 for each and every violation. SEC. 28. APPEAL FROM RULINGS.-Within thirty da ys aft er the revocation or suspension of license or the refusal of the Superin- tendent to grant a license, the general agent, agent, solicitor, or broker or applicant aggrieved may appeal from the ruling of the Superintendent to the Supreme Court of the District of Columbia, in equity, wherein, upon the relation of the Superintendent, by repre sentation of the corporation counsel, the Superintendent shall be designated as defendant and the general agent, agent, solicitor, or