2006 Louisiana Laws - RS 22:1267 — Suspension or revocation of licenses; surplus lines broker; fines

§1267.  Suspension or revocation of licenses; surplus lines broker; fines

A.  The commissioner of insurance shall revoke any surplus lines broker's license:

(1)  If the broker fails to comply with R.S. 22:1265 or to remit required taxes on surplus lines premiums as required by this Part.

(2)  If the broker fails to maintain the required records and accounts from this state as prescribed by R.S. 22:1263, or to allow the commissioner of insurance to examine his records as required by this Part.

(3)  For closing of the surplus line broker's office for a period of more than thirty calendar days, exclusive of legal holidays, Saturdays, and Sundays, unless permission is granted by the commissioner.

(4)  For failure to make and file required reports.

(5)  For violation of any of the provisions of this Part.

(6)  For any other cause for which an insurance license could be denied, revoked, suspended, or the renewal thereof refused under the provisions of R.S. 22:1142.

B.  The commissioner of insurance may deny, suspend, revoke, or refuse to renew or reinstate any such license whenever he deems such denial, suspension, revocation, or refusal to renew or reinstate to be for the best interest of the people of this state.  The agent's or producer's license may also be denied, suspended, revoked, or refused renewal or reinstatement whenever there is a denial, suspension, revocation, or refusal to renew or reinstate a surplus line broker's license.

C.  The procedures provided by this Code for the denial, suspension, revocation, or refusal to renew or reinstate an agent's or producer's license shall be applicable to denial, suspension, revocation, or refusal to renew or reinstate a surplus line broker's license.  The procedures provided for by this Code for the levying of fines against an agent or producer shall be applicable to the levying of fines against a surplus line broker.

D.  No surplus line broker whose license has been so revoked, suspended, or refused renewal or reinstatement shall again be so licensed within one year thereafter, nor until any fines or delinquent taxes owing by him have been paid.

Acts 1958, No. 125.  Amended by Acts 1966, No. 177, §1; Acts 1985, No. 717, §1; Acts 1996, 1st Ex. Sess., No. 71, §1, eff. May 10, 1996; Acts 1999, No. 868, §1; Acts 2001, No. 386, §1, H.C.R. No. 4, 2002 1st Ex. Sess.; Acts 2004, No. 466, §1, eff. Jan. 1, 2005.