§ 58-21-95. Suspension, revocation or nonrenewal of surplus lines licensee's license. - North Carolina Statutes

§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.)