West Virginia Code 33-12C-9 – Suspension, revocation or nonrenewal of surplus lines licensee’s license
(a) The commissioner may examine and investigate the business affairs of every individual applying for or holding a surplus lines insurance license to determine whether such individual has been or is engaged in unfair or deceptive practices in any state.
Terms Used In West Virginia Code 33-12C-9
- Commissioner: means the Insurance Commissioner of West Virginia, or the commissioner'. See West Virginia Code 33-12C-3
- Individual: means any private or natural person as distinguished from a partnership, corporation, limited liability company or other legal entity. See West Virginia Code 33-12C-3
- Insurance: means any of the lines of authority in section ten, article one of this chapter. See West Virginia Code 33-12C-3
- License: means a document issued by this state'. See West Virginia Code 33-12C-3
- Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
- Surplus lines licensee: means an individual licensed under section five of this article to place insurance on properties, risks or exposures located or to be performed in this state with nonadmitted insurers eligible to accept such insurance. See West Virginia Code 33-12C-3
(b) The commissioner may place on probation, suspend, revoke or refuse to issue or renew the license of a surplus lines licensee or may levy a civil penalty in a sum not to exceed $5,000 or any combination of actions after notice and hearing pursuant to section thirteen, article two of this chapter upon one or more of the following grounds:
(1) Removal of the resident surplus lines licensee's office from this state;
(2) Removal of the resident surplus lines licensee's office accounts and records from this state during the period during which the accounts and records are required to be maintained under section sixteen of this article;
(3) Closing of the surplus lines licensee's office for a period of more than thirty business days, unless permission is granted by the commissioner;
(4) Failure to make and file required reports;
(5) Failure to transmit required tax on surplus lines premiums to this state or a reciprocal state to which a tax is owing;
(6) Violation of any provision of this article; or
(7) For any cause for which an insurance license could be denied, revoked, suspended or renewal refused pursuant to section twenty-four, article twelve of this chapter.