§ 58-21-95. Suspension, revocation or nonrenewal of surplus lines licensee's license.
§58‑21‑95. Suspension, revocation or nonrenewal of surplus lineslicensee's license.
The Commissioner may suspend,revoke, or refuse to renew the license of a surplus lines licensee after noticeand hearing as provided under G.S. 58‑2‑70 upon any one or more ofthe following grounds:
(1) Removal of thesurplus lines licensee's office from this State;
(2) Removal of thesurplus lines licensee's office accounts and records from this State during theperiod during which such accounts and records are required to be maintainedunder G.S. 58‑21‑75;
(3) Closing of thesurplus lines licensee's office for a period of more than 30 business days,unless permission is granted by the Commissioner;
(4) Failure to make andfile required reports;
(5) Failure to transmitthe required tax on surplus lines premiums;
(6) Failure to maintainthe required bond;
(7) Violation of anyprovision of this Article; or
(8) For any other causefor which an insurance license could be denied, revoked, suspended, or renewalrefused under the Insurance Law. (1985, c. 688, s. 1.)