(a) An appeal from the Insurance Commissioner shall be taken only from an order on hearing or with respect to a matter as to which the commissioner has refused or failed to grant or hold a hearing after demand therefor under § 23-61-303 or as to a matter as to which the commissioner has refused or failed to make his or her order on hearing as required by § 23-61-306.
(b) Any person who was a party to the hearing, or whose pecuniary interests are directly and immediately affected by the refusal or failure to grant a hearing, and who is aggrieved by the order, refusal, or failure may appeal from the order on hearing or as to any such matter within thirty (30) days after:
(1) The order on hearing has been mailed or delivered to the persons entitled to receive it;
(2) The commissioner's order denying rehearing or reargument has been so mailed or delivered;
(3) The commissioner has refused or failed to make his or her order on hearing as required under § 23-61-306; or
(4) The commissioner has refused or failed to grant or hold a hearing as required under § 23-61-303.
(c) The appeal shall be granted as a matter of right and shall be taken to the Pulaski County Circuit Court by filing written notice of appeal in the court and by filing a copy of the notice with the commissioner, except that, in appeals from the refusal, suspension, or revocation of the license of an agent, broker, solicitor, or surplus line broker, the person taking the appeal may at his or her option take the appeal to the circuit court of the county in which the person resides instead of to the Pulaski County Circuit Court.
(d) Upon filing of the notice of appeal therein, the court shall have full jurisdiction and shall determine whether the filing shall operate as a stay of the order or action appealed from and shall have the right at any time thereafter to issue such other temporary or preliminary orders as to it may seem proper until a final decree is rendered.
(e) Within thirty (30) days after filing of the copy of notice of appeal in his or her office, or within such further time as the court may allow, the commissioner shall make, certify, and deposit in the office of the clerk of the court in which the appeal is pending a full and complete transcript of all proceedings had before the commissioner and all evidence before him or her in the matter, including all his or her files therein.
(f) Upon receipt of the transcript, evidence, and files, the court, as soon as reasonably possible thereafter, shall review the action of the commissioner appealed from.
(g)
(1) Any appeal shall be upon the basis of the record so presented.
(2) In any review the findings of the commissioner as to the facts, if supported by substantial evidence, shall be conclusive.
(3) If any party shall apply to the court for leave to adduce additional evidence and shall show to the satisfaction of the court that the additional evidence is material and that there were reasonable grounds for the failure to adduce the evidence in the proceedings before the commissioner, the court may order the additional evidence to be taken before the commissioner and to be adduced upon the hearing in such manner and upon such terms and conditions as the court may deem proper.
(4) The commissioner may modify his or her findings of fact or make new findings by reason of the additional evidence taken pursuant to subdivision (g)(3) of this section. The commissioner shall file the modified or new findings, which, if supported by substantial evidence, shall be conclusive, and his or her recommendation, if any, for the modification or setting aside of his or her original order with the return of the additional evidence.
(h) After hearing the appeal the court may affirm, modify, or reverse the order or action of the commissioner in whole or in part, or may remand the action to the commissioner for further proceedings in accordance with the court's direction.
(i) Costs shall be awarded as in civil actions.
(j)
(1) Appeal may be taken to the Supreme Court or the Court of Appeals from the judgment of the circuit court as in other civil cases.
(2) The circuit court judgment appealed from shall not be subject to supersedeas, and a stay of the effectiveness of any judgment may be made only by order of the Supreme Court or the Court of Appeals upon the giving of such security as the court deems proper.