(a) The Insurance Commissioner may remove an approved surplus lines insurer if the commissioner has reason to believe that the 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.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 65 - Unauthorized Insurers and Surplus Lines
Subchapter 3 - Surplus Lines Insurance Law
§ 23-65-303. Insurer not admitted
§ 23-65-305. Conditions of procurement
§ 23-65-307. Endorsement of contract
§ 23-65-308. Licensing of surplus lines broker
§ 23-65-309. Acceptance of business from agents by surplus lines brokers
§ 23-65-310. Surplus lines in solvent insurers
§ 23-65-311. Evidence of insurance — Changes
§ 23-65-312. Liability of insurer as to losses and unearned premiums
§ 23-65-313. Records of brokers
§ 23-65-314. Quarterly statement
§ 23-65-316. Penalty for failure to file quarterly statement or remit tax
§ 23-65-317. Revocation of broker's license
§ 23-65-318. Action against insurer — Service of process