Insurance Regulation
What power does section 2404 give the superintendent over a person suspected of an unfair trade practice?
Answer and explanation
Answer: C. Section 2404 empowers the superintendent to examine and investigate into the affairs of any person to determine whether that person has violated or is violating section 2403, and to seek information, with civil penalties for refusing it. Summary suspension, mandatory referral and criminal fines are not what the section confers.Source: N.Y. Ins. Law § 2404 — § 2404
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