Arkansas Statutes
§ 23-65-319 — Withdrawal of approval
Arkansas·Title 23
(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.
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Legislative History
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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