§33-12C-6. Withdrawal of eligibility as a surplus lines insurer.
78 words·~1 min read·
/wv/chapter-33-insurance/article-12c-surplus-line/33-12c-6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The commissioner may declare a surplus lines insurer ineligible if the commissioner has reason to believe that:
(1)Is in unsound financial condition or has acted in an untrustworthy manner;
(2)No longer meets standards set forth in subsection
(c)of this section;
(3)Has willfully violated the laws of this state; or
(4)Does not conduct a proper claims practice;
(b)The commissioner shall promptly mail notice of all such declarations to each surplus lines licensee.