N.C. Gen. Stat. § 58-21-30
Withdrawal of eligibility from a surplus lines insurer
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
If at any time the Commissioner has reason to believe that an eligible surplus lines insurer:
If at any time the Commissioner has reason to believe that an eligible surplus lines insurer:
(1) Is in unsound financial condition or has acted in an untrustworthy manner,
(1) Is in unsound financial condition or has acted in an untrustworthy manner,
(2) Is no longer eligible under G.S. 58-21-20,
(2) Is no longer eligible under G.S. 58-21-20,
(3) Has willfully violated the laws of this State, or
(3) Has willfully violated the laws of this State, or
(4) Does not make reasonably prompt payment of just losses and claims in this State or elsewhere, the Commissioner may declare it ineligible. The Commissioner shall promptly mail notice of all such declarations to each surplus lines licensee.
(4) Does not make reasonably prompt payment of just losses and claims in this State or elsewhere, the Commissioner may declare it ineligible. The Commissioner shall promptly mail notice of all such declarations to each surplus lines licensee.
History
(1985, c. 688, s. 1; 2001-223, s. 17.2.)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.