North Carolina General Statutes 58-21-30. Withdrawal of eligibility from a surplus lines insurer
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If at any time the Commissioner has reason to believe that an eligible surplus lines insurer:
(1) Is in unsound financial condition or has acted in an untrustworthy manner,
Terms Used In North Carolina General Statutes 58-21-30
- Eligible surplus lines insurer: means an alien insurer as defined in N. See North Carolina General Statutes 58-21-10
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
- Surplus lines licensee: means a person licensed under N. See North Carolina General Statutes 58-21-10
(2) Is no longer eligible under N.C. Gen. Stat. § 58-21-20,
(3) Has willfully violated the laws of this State, or
(4) Does not make reasonably prompt payment of just losses and claims in this State or elsewhere, the Commissioner may declare it ineligible. The Commissioner shall promptly mail notice of all such declarations to each surplus lines licensee. (1985, c. 688, s. 1; 2001-223, s. 17.2.)