STATE OF CALIFORNIA
DEPARTMENT OF INSURANCE
In the Matter of the Licenses )
and Licensing Rights of ) ORDER OF SUMMARY ) REVOCATION
EUGENE SHY-REN HSU ) File No. LCB 0409-AP (AR)
WHEREAS, Respondent, EUGENE SHY-REN HSU, was from November 9, 2001 through November 30, 2005; and, was from March 20, 2006 through November 30, 2007, the holder of a license issued by the Insurance Commissioner of the State of California to act as a life agent. On January 1, 2008, said life agent license was converted to a life-only agent license and an accident and health agent license. Respondent was from November 30, 2008 through November 30, 2009; and, now is and since February 25, 2010, has been licensed by the Insurance Commissioner to act as a life-only agent and as an accident and health agent; and,
WHEREAS, on January 13, 2010, in Case No. LA063754, in the Superior Court of Los Angeles County, Van Nuys Courthouse, State of California, Respondent, was convicted upon a plea of nolo contendere of maintaining place for unlawfully providing controlled substance, in violation of Section 11366 of the California Health and Safety Code; a felony; and,
WHEREAS, it is provided by California Insurance Code Section 1669(a), in conjunction with Section 1738, that the Insurance Commissioner may, revoke without hearing, the licenses and licensing rights of a person who has committed a felony as shown by a plea of guilty or nolo contendere, or by a final judgment of conviction thereof;
NOW, THEREFORE, pursuant to the authority of California Insurance Code Section 1669(a) in conjunction with Section 1738, the Insurance Commissioner hereby orders that the licenses and licensing rights of Respondent be, and the same hereby are, REVOKED, effective 30 days from the date of this order.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal this 11th day of February, 2011.
Assistant Chief Counsel
Last Revised - March 15, 2011
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