384.025 Ineligibility of nonadmitted insurer, grounds, when — notice to licensees.

384.025. Ineligibility of nonadmitted insurer, grounds, when — notice to licensees. — 1. If at any time the director has reason to believe that an 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 claims in this state or elsewhere; the director may declare it ineligible. 2. The director shall promptly publish notice of all such declarations in any public electronic format. (L. 1987 H.B. 700 § 5, A.L. 2009 H.B. 577)