A Surplus Lines Broker`s license may be revoked if the broker fails to file his annual statement, remit the annual tax required by law, maintain the appropriate bond, maintain an office in the state to keep records or not allow examination of records. In addition, the Commissioner may suspend or revoke the broker`s license if he finds that the broker has, willfully or without exercise of due care, placed any insurance coverage with an unauthorized (non admitted) insurer in violation of any of the Alabama code requirements.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified insurance lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local insurance attorney to discuss your specific legal situation.