Sec. 21.27.820. Denial, nonrenewal, suspension, or revocation of surplus lines broker license.
197 words·~1 min read·
/ak/title-21/chapter-27/21-27-820A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 21.27.820. Denial, nonrenewal, suspension, or revocation of surplus lines broker license.
In addition to other action available under this title, the director may deny issuance of or not renew a license, or may suspend or revoke a license of a surplus lines broker issued under this chapter for any of the following causes:
(1)removal of the resident surplus lines broker's office from this state;
(2)removal of the resident surplus lines broker's accounts and records from this state during the period within which the accounts and records are required to be maintained under this chapter;
(3)removal of the nonresident surplus lines broker's accounts and records required to be maintained under this chapter from the location described in the license without prior approval of the director;
(4)closing of the surplus lines broker's office for a period of more than 45 calendar days, unless permission is granted by the director;
(5)failure to make a required report;
(6)failure to transmit a required tax or fee on a surplus line premium to this state or a reciprocal state to which a tax is owing;
(7)failure to maintain a required bond.
Article 8. Independent Adjusters.