Arkansas § 23-65-319 Withdrawal of approval

Arkansas Statutes

§ 23-65-319 — Withdrawal of approval

Arkansas § 23-65-319

Title23

This text of Arkansas § 23-65-319 (Withdrawal of approval) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 23-65-319 (2026).

Text

(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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(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.