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Current as of January 01, 2025 | Updated by Findlaw Staff
The department may suspend, revoke or refuse to renew the license of a surplus lines licensee after notice and a hearing, as provided under the applicable provision of the laws of this Commonwealth, upon any one or more of the following grounds:
(1), (2) Deleted by 2002, July 10, P.L. 749, No. 110, § 8, effective in 60 days.
(3) Closing of the surplus lines licensee's office for a period of more than thirty (30) business days, unless permission is granted by the department.
(4) Failure to make and file required reports.
(5) Failure to collect or transmit required tax on surplus lines premiums.
(6) Deleted by 2002, July 10, P.L. 749, No. 110, § 8, effective in 60 days.
(7) Failure to remit premiums due insurers or return premiums due insureds in the normal course of business and within reasonable time limits.
(8) Violation of any provision of this act.
(9) For any other cause for which an insurance producer's license could be denied, revoked or suspended or refused upon renewal.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 991.1623. Suspension, revocation or nonrenewal of surplus lines licensee's license - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-991-1623/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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