384.025. Ineligibility of nonadmitted insurer, grounds, when--notice to licensees. - Missouri Statutes

Ineligibility of nonadmitted insurer, grounds, when--notice tolicensees.

384.025. 1. If at any time the director has reason to believe thatan eligible surplus lines insurer:

(1) Is in unsound financial condition;

(2) Is no longer eligible under section 384.021;

(3) Has willfully violated the laws of this state; or

(4) Does not make reasonably prompt payment of just losses and claimsin this state or elsewhere;

the director may declare it ineligible.

2. The director shall promptly publish notice of all suchdeclarations in any public electronic format.

(L. 1987 H.B. 700 § 5, A.L. 2009 H.B. 577)