(a) The Insurance Commissioner may remove an approved surplus lines insurer if the commissioner has reason to believe that the surplus lines 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. Acts 1959, No. 148, § 207.1, as added by Acts 1983, No. 522, § 24; A.S.A. 1947, § 66-2928; Acts 2011, No. 1055, § 2. (a) The Insurance Commissioner may remove an approved surplus lines insurer if the commissioner has reason to believe that the surplus lines 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. Acts 1959, No. 148, § 207.1, as added by Acts 1983, No. 522, § 24; A.S.A. 1947, § 66-2928; Acts 2011, No. 1055, § 2. (a) The Insurance Commissioner may remove an approved surplus lines insurer if the commissioner has reason to believe that the surplus lines 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. Acts 1959, No. 148, § 207.1, as added by Acts 1983, No. 522, § 24; A.S.A. 1947, § 66-2928; Acts 2011, No. 1055, § 2. (a) The Insurance Commissioner may remove an approved surplus lines insurer if the commissioner has reason to believe that the surplus lines 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. (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. Acts 1959, No. 148, § 207.1, as added by Acts 1983, No. 522, § 24; A.S.A. 1947, § 66-2928; Acts 2011, No. 1055, § 2.
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