LAC 37:XIII.5113. Conditions for Refusal of Letter of No Objection [Formerly §5109]

A. The commissioner may refuse to issue a letter of no objection if he finds: 1. the competence, experience, and integrity of the individual are such that it would not be in the best interest of policyholders, members or clients of the domestic regulated entity, or of the public to allow the person to serve in the proposed position; 2. the individual has been convicted of, has pled guilty or nolo contendere to, or has participated in a pretrial diversion program pursuant to any charge of any felony or misdemeanor involving moral turpitude, public corruption, or a felony involving dishonesty or breach of trust; 3. the individual knowingly makes a materially false statement or omission of material information in the request for a letter of no objection; 4. any other reason now or hereinafter as applicable statutes and regulations may provide.