§ 58-21-30. Withdrawal of eligibility from a surplus lines insurer. - North Carolina Statutes

§ 58‑21‑30. Withdrawal of eligibility from a surplus lines insurer.

If at any time theCommissioner has reason to believe that an eligible surplus lines insurer:

(1)        Is in unsoundfinancial condition or has acted in an untrustworthy manner,

(2)        Is no longereligible under G.S. 58‑21‑20,

(3)        Has willfullyviolated the laws of this State, or

(4)        Does not makereasonably prompt payment of just losses and claims in this State or elsewhere,the Commissioner may declare it ineligible. The Commissioner shall promptlymail notice of all such declarations to each surplus lines licensee. (1985, c. 688, s. 1; 2001‑223,s. 17.2.)