The director may suspend or revoke any surplus line broker's license:
- (1) If the broker fails to file his annual statement or to remit the tax as required by this chapter; or
- (2) If the broker fails to keep records, or to allow the director to examine his records as required by this chapter; or
- (3) If the broker knowingly or negligently places a surplus line coverage in an insurer that is in unsound financial condition in violation of § 58-32-25; or
- (4) For any other cause for which a general lines agent's license may be suspended or revoked.
Source: SL 1966, ch 111 , ch 11, § 13 (1); SL 2001, ch 286 , § 197.