Arizona Revised Statutes Title 20. Insurance § 20-845. Suspension or revocation of certificate of authority; civil penalties

A. The director may suspend or revoke a certificate of authority issued to a corporation pursuant to this article if the director finds that any of the following conditions exist:

B. If the certificate of authority of a corporation is suspended, the corporation shall not accept, during the period of the suspension, any additional subscribers except newborn children or other newly acquired dependents of existing subscribers and shall not engage in any advertising or marketing.

C. If the certificate of authority of a corporation is revoked, the corporation shall proceed, immediately following the effective date of the order of revocation, to conclude its affairs and shall conduct no further business except as may be essential to the orderly conclusion of business. The director, by written order, may permit any further operation of the corporation as the director finds to be in the best interest of subscribers to the end that subscribers shall be afforded the greatest practical opportunity to obtain continuing hospital, medical, dental or optometric coverage as applicable.

D. Notwithstanding subsections B and C of this section, a corporation that has had its certificate of authority suspended or revoked, or that is subject to an adverse action by the director, is entitled to a hearing pursuant to title 41, chapter 6, article 10  1 and, except as provided in § 41-1092.08, subsection H, is entitled to judicial review pursuant to title 12, chapter 7, article 6. 2

E. If, after a hearing, the director finds grounds pursuant to subsection A of this section to suspend or revoke a corporation's certificate of authority, the director may impose, in lieu of or in addition to that suspension or revocation, the following civil penalties that shall be remitted to the state treasurer for deposit, pursuant to §§ 35-146 and 35-147, in the state general fund: