The director or his designee and the Attorney General shall remove from the list of surety insurers whose bonds are acceptable under Section 38-15-10 the names of insurers who in their judgment fail or refuse to carry out promptly their obligations in good faith.

HISTORY: Former 1976 Code SECTION 38-15-20 [1960 (51) 1664; 1962 Code SECTION 37-762] recodified as SECTION 38-19-840 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-13-40 [1947 (45) 322; 1952 Code SECTION 37-604; 1962 Code SECTION 37-604] recodified as SECTION 38-15-20 by 1987 Act No. 155, SECTION 1; 1988 Act No. 386, SECTION 2; 1993 Act No. 181, SECTION 539.