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Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-65-319. Withdrawal of approval

Current as of March 28, 2024 | Updated by FindLaw Staff

(a) The Insurance Commissioner may remove an approved surplus lines insurer if the commissioner has reason to believe that the insurer:

(1) Is in unsound financial condition;

(2) Is no longer eligible under § 23-65-310;

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

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

(5) Has failed to file its annual statement when due.

(b) The commissioner shall promptly mail notice of removals to each surplus lines broker that is currently licensed.

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Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-65-319. Withdrawal of approval - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-65-319/

Read this complete Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-65-319. Withdrawal of approval on Westlaw

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