| (a) The Commissioner may impose any sanction or remedy
in Insurance Code Chapter 82 or any other applicable laws or statutes
if the Commissioner determines, after notice and an opportunity for
hearing, that the applicant or license holder individually or through
any officer, director, or shareholder:
(1) committed any action that would form the basis
for sanctioning a general property and casualty agent or a managing
general agent, as applicable to the surplus lines agent's other licenses,
under the Insurance Code;
(2) failed to allow TDI or the comptroller to examine
the surplus lines agent's accounts and records or failed to maintain
surplus lines insurance business accounts and records as required
by the Insurance Code and this chapter;
(3) failed to make and file all reports when due, as
required by the Insurance Code and this chapter;
(4) failed to properly collect and pay required taxes
and stamping fees on surplus lines gross premium or failed to submit
tax reports as required by law or regulation;
(5) failed to otherwise maintain the qualifications
for a surplus lines agent license; or
(6) is in violation of, or has failed to comply with
the Insurance Code, this chapter, or any other applicable laws or
regulations of this state.
(b) Except when Insurance Code §981.203(a-1) applies
to a nonresident surplus lines agent, an agent's surplus lines license
will not be renewed and the surplus lines agent may not act under
the surplus lines agent license if the surplus lines agent fails to
maintain or renew the surplus lines agent's license as a general property
and casualty agent or managing general agent, as appropriate to the
license status of the agent.
(c) A surplus lines agent whose license has been revoked
or suspended will not have a license issued, renewed, or a suspension
lifted until all fines, penalties, delinquent taxes, and delinquent
stamping office fees the agent owes have been paid.
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