N.C. Gen. Stat. § 58-21-95
Suspension, revocation or nonrenewal of surplus lines licensee's license
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
The Commissioner may suspend, revoke, or refuse to renew the license of a surplus lines licensee after notice and hearing as provided under G.S. 58-2-70 upon any one or more of the following grounds:
The Commissioner may suspend, revoke, or refuse to renew the license of a surplus lines licensee after notice and hearing as provided under G.S. 58-2-70 upon any one or more of the following grounds:
(1) Repealed by Session Laws 2019-179, s. 2(e), effective July 26, 2019.
(1) Repealed by Session Laws 2019-179, s. 2(e), effective July 26, 2019.
(2) Removal of the surplus lines licensee's office accounts and records during the period during which such accounts and records are required to be maintained under G.S. 58-21-75;
(2) Removal of the surplus lines licensee’s office accounts and records during the period during which such accounts and records are required to be maintained under G.S. 58-21-75;
(3) Closing of the surplus lines licensee's office for a period of more than 30 business days, unless permission is granted by the Commissioner;
(3) Closing of the surplus lines licensee’s office for a period of more than 30 business days, unless permission is granted by the Commissioner;
(4) Failure to make and file required reports;
(4) Failure to make and file required reports;
(5) Failure to transmit the required tax on surplus lines premiums;
(5) Failure to transmit the required tax on surplus lines premiums;
(6) Failure to pay the stamping fee to the stamping office;
(6) Failure to pay the stamping fee to the stamping office;
(7) Violation of any provision of this Article; or
(7) Violation of any provision of this Article; or
(8) For any other cause for which an insurance license could be denied, revoked, suspended, or renewal refused under the Insurance Law.
(8) For any other cause for which an insurance license could be denied, revoked, suspended, or renewal refused under the Insurance Law.
History
(1985, c. 688, s. 1; 2019-179, s. 2(e).)
Effect of Amendments. - Session Laws 2019-179, s. 2(e), effective July 26, 2019, repealed subdivision (1); deleted "from this State" preceding "during" in subdivision (2); and substituted "Failure to pay the stamping fee to the stamping office" for "Failure to maintain the required bond" in subdivision (6).
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.