Arizona § 20-418 Denial, revocation or suspension of license; civil penalty

Arizona Statutes

§ 20-418 — Denial, revocation or suspension of license; civil penalty

Arizona·Title 20 Arizona Revised Statutes·Ch. 2 TRANSACTION OF INSURANCE BUSINESS·Art. 5 Unauthorized Insurers

A.The director may deny or suspend for not more than twelve months, revoke or refuse to renew any surplus lines broker's license and, in addition or in lieu thereof, may levy a civil penalty and order restitution to any injured party:

1.If the broker fails to comply with any requirement of this article.

2.For any of the causes for which an insurance producer's license may be denied, revoked or suspended.

B.The procedures provided by this title for the denial, suspension or revocation of an insurance producer's license apply to denial, suspension or revocation of a surplus lines broker's license.

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A. The director may deny or suspend for not more than twelve months, revoke or refuse to renew any surplus lines broker's license and, in addition or in lieu thereof, may levy a civil penalty and order restitution to any injured party:

1. If the broker fails to comply with any requirement of this article.

2. For any of the causes for which an insurance producer's license may be denied, revoked or suspended.

B. The procedures provided by this title for the denial, suspension or revocation of an insurance producer's license apply to denial, suspension or revocation of a surplus lines broker's license.

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