1. If the director is of the opinion that a multiple employer self-insured health
plan is in an unsound condition, that it has failed to comply with the law or any
applicable regulations or orders issued by the director, or that it is in a condition
which renders its proceedings hazardous to the public or to persons covered under
the plan, the director may, after notice and opportunity for a hearing, revoke or
suspend the license of the plan or, in lieu thereof, bring a civil action in the county
which has venue of an action against the multiple employer self-insured health plan
under other provisions of law. The court may impose a fine not to exceed fifty thousand dollars for each violation
2. If the director is of the opinion that any of the grounds set forth in subsection
1 of this section exist regarding a plan domiciled in this state, he may commence
delinquency proceedings against the plan and supervise, rehabilitate, or liquidate
such plan in accordance with the procedures set forth in sections 375.1150 to 375.1246.
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