# Conn. Gen. Stat. § 38a-41: Sec. 38a-41. (Formerly Sec. 38-20). Authority to do business. Licensure. Revocation or refusal to renew license. Fines. Company owned by a state or foreign nation or company controlled by insureds not to be issued license. Appeals. Plan of operations. Type of business to be conducted > Connecticut · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-41 ## Section - **Citation:** Conn. Gen. Stat. § 38a-41 - **Heading:** Sec. 38a-41. (Formerly Sec. 38-20). Authority to do business. Licensure. Revocation or refusal to renew license. Fines. Company owned by a state or foreign nation or company controlled by insureds not to be issued license. Appeals. Plan of operations. Type of business to be conducted - **Jurisdiction:** Connecticut - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Connecticut Code / Title 38a / Chapter 698 / Section 38a-41 ## Text (b) The commissioner shall adopt regulations in accordance with the provisions of chapter 54 specifying the information and evidence that an insurance company or health care center desiring to obtain or renew a license to do an insurance business or health care center business shall submit and the requirements with which it shall comply. (c) The commissioner may, at any time, for cause, suspend, revoke or refuse to renew any such license or in lieu of or in addition to suspension or revocation of such license the commissioner, after reasonable notice to and hearing of any holder of such license, may impose a fine not to exceed fifty thousand dollars. Such hearings may be held by the commissioner or any person designated by the commissioner. Whenever a person other than the commissioner acts as the hearing officer, the person shall submit to the commissioner a memorandum of the person's findings and recommendations upon which the commissioner may base a decision. The commissioner may, if the commissioner deems it in the interest of the public, publish in one or more newspapers of the state a statement that, under the provisions of this section, the commissioner has suspended or revoked the license of any insurance company or health care center to do business in this state. (d) No license to do an insurance business within this state shall be issued to a foreign insurance company owned or financially controlled by another state of the United States or to an alien insurance company owned or financially controlled by a foreign nation or any state or province thereof. (e) No license to do an insurance business within this state shall be issued to any company which insures or plans to insure the separate risks of the employees of an employer that directly or indirectly controls the insurer by stock ownership or otherwise or exercises control of the operations of the insurer where the premiums written annually by the insurer on the separate risks of such employees exceed or will exceed ten per cent of the total premiums which the insurer writes or will write annually or where the commissions payable, if any, on premiums covering the risks of such employees written by the insurer annually exceed or will exceed ten per cent of the total commissions to agents which are or will be paid annually by the insurer. (f) Any company aggrieved by the action of the commissioner in revoking, suspending or refusing to renew a license or in imposing a fine may appeal therefrom, in accordance with the provisions of section 4-183 , except venue for such appeal shall be in the judicial district of New Britain. Appeals under this section shall be privileged in respect to the order of trial assignment. (g) Except as provided in section 38a-92 l an insurer shall be required to be licensed to transact financial guaranty insurance in this state, as defined in subdivision (1) of section 38a-92a . Prior to the issuance of a license to transact financial guaranty insurance business, an insurer shall submit for the approval of the commissioner a plan of operation detailing the types and projected diversification of guaranties that will be issued, the underwriting procedures that will be followed, managerial oversight methods, investment policies and other matters as may be prescribed by the commissioner. An insurer licensed to transact the business of financial guaranty insurance may also be licensed to transact the business of surety, credit and residual value insurance, but may not be licensed to transact any other lines of insurance in this state. Annotations to former section 38-20: Powers of Insurance Commissioner are discretionary or quasi-judicial, rather than ministerial; courts will not interfere with the exercise of commissioner's discretion; mandamus will not lie to control action of commissioner under section. 60 C. 448. Cited. 122 C. 295; 188 C. 152. ## Nearby sections - [Conn. Gen. Stat. § 38a-41 Sec. 38a-41. (Formerly Sec. 38-20). Authority to do business. Licensure. Revocation or refusal to renew license. Fines. Company owned by a state or foreign nation or company controlled by insureds not to be issued license. Appeals. Plan of operations. Type of business to be conducted.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-41.md) - [Conn. Gen. Stat. § 38a-41a Sec. 38a-41a. Certificate authorizing formation of insurance company or health care center. Information required by commissioner. Costs.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-41a.md) - [Conn. Gen. Stat. § 38a-42 Sec. 38a-42. (Formerly Sec. 38-20b). Contracts with life, accident or health insurance producers.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-42.md) - [Conn. Gen. Stat. § 38a-43 Sec. 38a-43. (Formerly Sec. 38-22). Certain insurance companies and health care centers may be prohibited from transacting business in this state.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-43.md) - [Conn. Gen. Stat. § 38a-44 Sec. 38a-44. (Formerly Sec. 38-64b). Notice to commissioner of intent to discontinue line of insurance.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-44.md) - [Conn. Gen. Stat. § 38a-47 Sec. 38a-47. (Formerly Sec. 38-53a). Payments by domestic insurance companies for expenditures of Insurance Department and amount appropriated to Office of Health Strategy from Insurance Fund.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-47.md) - [Conn. Gen. Stat. § 38a-48 Sec. 38a-48. (Formerly Sec. 38-53b). *(See end of section for amended version and effective date.) Assessment of payments by domestic insurance companies. Adjustments. Penalty. Interest. Payments credited to Insurance Fund. Allocation of assessments.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-48.md) - [Conn. Gen. Stat. § 38a-53 Sec. 38a-53. (Formerly Sec. 38-24). Requirements re filing of annual reports and financial statements. Late filing fee. Due date extensions.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-53.md) - [Conn. Gen. Stat. § 38a-54 Sec. 38a-54. Audited reports.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-54.md) - [Conn. Gen. Stat. § 38a-55 Sec. 38a-55. Hypothecation of assets.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-55.md) - [Conn. Gen. Stat. § 38a-58a Sec. 38a-58a. Transfer of domicile: By foreign insurance company to this state; by domestic insurance company to another state. Procedures.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58a.md) - [Conn. Gen. Stat. § 38a-58b Sec. 38a-58b. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58b.md) - [Conn. Gen. Stat. § 38a-58d Sec. 38a-58d. Use of state as alien insurer's state of entry. Requirements. Examination of trusteed assets. Revocation of license and liquidation of United States branch.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58d.md) - [Conn. Gen. Stat. § 38a-58e Sec. 38a-58e. Annual and quarterly statements by United States branch.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58e.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-41. Check the current official text before relying on it. Not legal advice.