ALBERT C. RITCHIE, GOVERNOR. 1221

upon statement furnished by the Insurance Commis-
sioner. If any such association or its officers refuse to
submit to such examination or to comply with the provi-
sions of this section relative thereto, the authority of such
association to write new business in this State shall be
suspended or license refused until satisfactory evidence is
furnished the Commissioner relating to the condition and
affairs of the association, and during such suspension the
association shall not write new business in this State.

SEC. 175. Adverse Publications. Pending, during or
after an examination or investigation of any such associa-
tion, either domestic or foreign, the Insurance Commis-
sioner shall make public no financial statement, report or
finding, nor shall he permit to become public any financial
statement, report or finding affecting the status, standing
or rights of any such association until a copy thereof shall
have been served upon such association at its home office,
nor until such association shall have been afforded a rea-
sonable opportunity to answer any such financial state-
ment, report or finding and to make such showing in con-
nection therewith as it may desire.

SEC. 176. Revocation of License. When the Insur-
ance Commissioner, on investigation, is satisfied that any
foreign association transacting business under this Act
has exceeded its powers, or has failed to comply with any
provisions of this Act, or is conducting business fraudu-
lently, or is not carrying out its contracts in good faith,
he shall notify the association of his findings and state in
writing the grounds of his dissatisfaction, and after rea-
sonable notice require said association on a date named
to show cause why its license should not be revoked. If
on the date named in said notice such objections have not
been removed to the satisfaction of the said Commissioner,
or the association does not present good and sufficient
reasons why its authority to transact business in this State
should not at that time be revoked, he may revoke the au-
thority of the association to continue business in this State.
All decisions and findings of the Commissioner made under
the provisions of this section may be reviewed by proper
proceedings in any court of competent jurisdiction, as pro-
vided in Section 159.

SEC. 177. Exemptions. Nothing contained in this Act
shall be construed to affect or apply to grand or subordi-