PLNew Yorkmedium
Under NY Ins. Law § 2110, which of the following grounds permits the Superintendent of Financial Services to suspend or revoke a producer's license?
The producer used fraudulent, coercive, or dishonest practices, or demonstrated incompetence, untrustworthiness, or financial irresponsibility in the conduct of business
BThe producer was once denied a personal credit card application
CThe producer's spouse was found liable in an unrelated civil contract dispute
DThe producer changed business addresses without using a registered moving company
Why this is the answer
Section 2110 lists multiple statutory grounds for license action: providing materially false information on the application; violation of any provision of the Insurance Law or regulation; fraudulent, coercive, or dishonest practices; incompetence or untrustworthiness in business; financial irresponsibility; felony or insurance-related misdemeanor conviction; failure to pay state income tax or child support. Personal credit history, spousal liabilities, and unrelated administrative facts are not, by themselves, grounds.
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