§ 23-65-317 - Revocation of broker's license. - Arkansas Statutes

23-65-317. Revocation of broker's license.

(a) The Insurance Commissioner shall revoke any surplus lines broker's license:

(1) If the broker fails to file his or her annual statement or to remit the tax as required by law;

(2) If the broker fails to maintain an office, or to keep records, or to allow the commissioner to examine his or her records as required by law; or

(3) For any of the causes for which an agent's license may be revoked.

(b) The commissioner may suspend or revoke any or all licenses whenever he or she deems the suspension or revocation to be for the best interest of the people of this state.

(c) The procedures provided by 23-64-218 for the suspension or revocation of agents' licenses shall be applicable to suspension or revocation of a surplus lines broker's license.

(d) No broker whose license has been so revoked shall again be so licensed within one (1) year thereafter, nor until any fines or delinquent taxes owed by him or her have been paid.