384.025. Ineligibility of nonadmitted insurer, grounds, when--notice to licensees.
Ineligibility of nonadmitted insurer, grounds, when--notice tolicensees.
384.025. 1. If at any time the director has reason to believe thatan eligible surplus lines insurer:
(1) Is in unsound financial condition;
(2) Is no longer eligible under section 384.021;
(3) Has willfully violated the laws of this state; or
(4) Does not make reasonably prompt payment of just losses and claimsin this state or elsewhere;
the director may declare it ineligible.
2. The director shall promptly publish notice of all suchdeclarations in any public electronic format.
(L. 1987 H.B. 700 § 5, A.L. 2009 H.B. 577)