2005 North Carolina Code - General Statutes § 58-21-95. Suspension, revocation or nonrenewal of surplus lines licensee\'s license.

§ 58‑21‑95.  Suspension, revocation or nonrenewal of surplus lines licensee's license.

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)       Removal of the surplus lines licensee's office from this State;

(2)       Removal of the surplus lines licensee's office accounts and records from this State 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;

(4)       Failure to make and file required reports;

(5)       Failure to transmit the required tax on surplus lines premiums;

(6)       Failure to maintain the required bond;

(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. (1985, c. 688, s. 1.)