STATE OF MAINE
DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
BUREAU OF INSURANCE

NOTICE TO MICHAEL PAUL IPPOLITO:

            Effective as of August 28, 2012, your Maine nonresident insurance producer license will be REVOKED without further formal proceedings unless you request a hearing as specified below.

The reasons for license revocation are as follows:

1.         The State of Kansas revoked your insurance agent’s license by Order effective November 29, 2011, which constitutes grounds for revocation of your Maine license under 24-A M.R.S. §1420‑K(1)(I) for having an insurance producer license, or its equivalent, denied, suspended or revoked in any other state, province, district or territory.

2.         The State of Idaho revoked your insurance producer license on February 7, 2012. The Idaho revocation also constitutes grounds for revocation of your Maine license under 24-A M.R.S. §1420‑K(1)(I) for having an insurance producer license, or its equivalent, denied, suspended or revoked in any other state, province, district or territory.

3.         The State of Connecticut revoked your insurance producer license on March 22, 2012, which also constitutes grounds for revocation of your Maine license under 24-A M.R.S. §1420 K(1)(I) for having an insurance producer license, or its equivalent, denied, suspended or revoked in any other state, province, district or territory.

4.         The State of Arkansas revoked your insurance producer license on April 9, 2012, establishing further grounds for revocation of your Maine license under 24-A M.R.S. §1420 K(1)(I) for having an insurance producer license, or its equivalent, denied, suspended or revoked in any other state, province, district or territory.

5.         The State of South Dakota revoked your insurance producer license on April 27, 2012, constituting additional grounds for revocation of your Maine license under 24-A M.R.S. §1420 K(1)(I) for having an insurance producer license, or its equivalent, denied, suspended or revoked in any other state, province, district or territory.

6.         You have failed to report the above license actions to the Maine Superintendent of Insurance as required by 24-A M.R.S. §1420-P(1), which also constitutes grounds for revocation of your Maine license under 24-A M.R.S. §1420-K(1)(B), for violating insurance laws.

            Therefore, based upon the above grounds, your Maine insurance producer license is revoked as of August 28, 2012 pursuant to 24-A M.R.S. §§1417 and 1420-K, subject to your right to request a hearing.

            Under the Maine Insurance Code, specifically 24-A M.R.S. §1417 and §1420‑K, you have the right to a hearing before the Superintendent or his designee.  If you request a hearing, you will have the right to present evidence and arguments in your defense, and the staff of the Bureau of Insurance will bear the burden of proving each violation by a preponderance of evidence.

If you request a hearing, you will receive further communication regarding scheduling.  The matters to be determined through the hearing process are whether you committed one or more of the violations listed above, and if so, the appropriate sanctions for those violations.  The sanctions imposed after a hearing can include any available remedy under applicable laws, including the payment of civil penalties.

To request a hearing, you must notify the Bureau of Insurance in writing no later than August 28, 2012.  If you do not file a written request for a hearing within 30 days from the time you know or reasonably should have known of the intended revocation of your license, you will lose your right to request a hearing on this matter, and your license revocation will be final and entered into Bureau records, in accordance with this Notice and Order.

            Any request for a hearing, as well as all other communications regarding this Notice, Order, and Opportunity for Hearing must be addressed to Bureau staff Attorney Arthur G. Hosford, Jr., Bureau of Insurance, #34 State House Station, Augusta, ME 04333-0034.  You may also reach Attorney Hosford by e-mail at arthur.g.hosford.jr@maine.gov or telephone at 207 624-8429.

                                                                                               
July 18, 2012                                       _________________________________
                                                            ERIC A. CIOPPA, Superintendent