On and after July 1, 1993, when it appears to the commissioner of insurance that any
person has committed a violation of this act which makes the continued operation of
an insurer contrary to the interests of policyholders or the public, the commissioner
of insurance may, after giving notice and an opportunity to be heard, determine to
suspend, revoke or refuse to renew such insurer's license or authority to do business
in this state for such period as the commissioner of insurance finds is required for
the protection of policyholders or the public. Any such determination shall be accompanied by specific findings of fact and conclusions
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