New York § 3110 - 3110Withdrawal of any policy form

§ 3110. 3110Withdrawal of any policy form

§ 3110. Withdrawal of any policy form. (a) Whenever by the provisions of this chapter the superintendent is authorized to give approval of any form of insurance policy or contract, the superintendent may, after notice and hearing given to the insurer that submitted such form for approval, withdraw an approval previously given, if the use of such form is contrary to the requirements applicable to such form at the time of such withdrawal. Any such withdrawal shall be effective at the expiration of such period, not less than ninety days after the giving of notice of withdrawal, as the superintendent shall in such notice prescribe. (b) Whenever by the provisions of this chapter an insurer may use a policy form without obtaining the prior approval of the superintendent, the superintendent may, after notice and hearing given to the insurer, order the insurer to cease using such policy form, if the use of such form is contrary to the requirements applicable to such form at the time of the effective date of such order. Any such order shall be effective at the expiration of such period, not less than ninety days after the giving of a notice of cessation, as the superintendent shall in such notice prescribe.