(1) The Insurance Commissioner shall prescribe the form and content of all examinations required by this chapter and shall include therein questions calculated to determine the applicant's knowledge of the laws of this state and the regulations of the commissioner relative to those areas of licensure.
(2) Upon receipt of the notice from any insurance company pursuant to § 23-64-515(a), if the commissioner determines after investigation that the dismissal was for any of the reasons described in § 23-64-512, the commissioner shall immediately suspend the license of the licensee pending a hearing on the matter.
(3) The commissioner shall maintain information on each licensee in this state. A complete record of all information furnished the commissioner regarding the conduct of any licensee in this state shall be maintained for a reasonable period of time as determined by the commissioner.
(4) If the commissioner receives information from any insurance company or from any other person about acts of fraud by a licensee, or about misrepresentations of the terms and provisions of any insurance policy by the licensee, the commissioner shall transmit that information plus any other information discovered in an investigation by the commissioner to the proper authorities for legal action against the agent as authorized by the laws of this state.
(5) The provisions of this subsection shall be supplemental to and shall not repeal any existing laws on the same subject.