Sec 20-374. Revocation and suspension of licenses

The director may suspend the license of any rating organization or the certificate of authority of any insurer which fails to comply with an order of the director made pursuant to this article within the time limited by the order, or any extension thereof which may be granted by the director. The director shall not suspend the license of any rating organization or the certificate of authority of any insurer for failure to comply with an order until the time prescribed for a review thereof has expired, or if a review has been sought, until the order has been affirmed. The director may determine when a suspension of license or certificate shall become effective, and it shall remain in effect for the period fixed by him, unless he modifies or rescinds the suspension, or until the order upon which suspension is based is modified, rescinded or reversed. No license or certificate shall be suspended or revoked except upon the written order of the director stating his findings, made after a hearing held upon not less than ten days written notice to such person or organization, specifying the alleged violation.