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2017 Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 3 - Insurance
Chapter 65 - Unauthorized Insurers and Surplus Lines
Subchapter 3 - Surplus Lines Insurance Law
§ 23-65-319. Withdrawal of approval
Universal Citation: AR Code § 23-65-319 (2017)
- (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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