Who has the authority to terminate a license?

The ability to terminate a license involves the authority of both the license holder and the director of insurance. The license holder can choose to voluntarily terminate their license at any time, reflecting their decision to cease their licensed activities. This could happen for various reasons, including personal choice, retirement, or a shift in professional interests.

Conversely, the director of insurance also has the power to terminate a license, typically due to regulatory issues or violations of laws and regulations governing the profession. This is often a response to misconduct, failure to meet certain standards, or any other significant breach that undermines the integrity of the licensed activities.

This dual authority recognizes the individual’s right to manage their own professional status while also ensuring public protection through regulatory oversight. Therefore, understanding that both parties—the license holder and the director of insurance—can initiate termination provides clarity on the nature of licensing powers in this context.