The Commissioner may suspend, revoke, or refuse to renew the license of a surplus lines licensee after notice and hearing as provided under N.C. Gen. Stat. § 58-2-70 upon any one or more of the following grounds:

(1) Repealed by Session Laws 2019-179, s. 2(e), effective July 26, 2019.

Terms Used In North Carolina General Statutes 58-21-95

  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. 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) Removal of the surplus lines licensee’s office accounts and records during the period during which such accounts and records are required to be maintained under N.C. Gen. Stat. § 58-21-75;

(3) Closing of the surplus lines licensee’s office for a period of more than 30 business days, unless permission is granted by the Commissioner;

(4) Failure to make and file required reports;

(5) Failure to transmit the required tax on surplus lines premiums;

(6) Failure to pay the stamping fee to the stamping office;

(7) Violation of any provision of this Article; or

(8) For any other cause for which an insurance license could be denied, revoked, suspended, or renewal refused under the Insurance Law. (1985, c. 688, s. 1; 2019-179, s. 2(e).)

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