Section 58-32-11 - Suspension or revocation of license of surplus line broker-GroundsThe 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.SL 1966, ch 111, ch 11, § 13 (1); SL 2001, ch 286, §197.