Upon revoking, suspending, or refusing to extend an insurer's authority to transact insurance, the commissioner shall forthwith:
(1) Give notice thereof to the insurer not fewer than ten days in advance of the effective date of the revocation or suspension;
(2) Likewise revoke or suspend all producers' authority to represent the insurer in this State and give notice thereof to the producers; and
(3) Give notice thereof to the insurance supervisory official of each other state in which the insurer is authorized to transact insurance; provided that notice to the National Association of Insurance Commissioners shall satisfy this requirement.