Ill. Admin. Code tit. 50, § 2701.100 - License Rejection or Renewal Refusal
Application for a surplus line producer license shall be rejected, or renewal thereof refused, for failure:
a) to pay the tax required by Section 445 of
the Illinois Insurance Code and by Section 12 of the Fire Investigation Act [
425
ILCS 25/12 ]; or
b) to pay the annual license fee to the
Director of Insurance pursuant to Section 445(2) of the Code; or
c) to pay the fee due the Surplus Line
Association; or
d) to exert
diligent effort to secure the business required by an insured from duly
authorized insurers; or
e) to
procure surplus line policies or contracts or coverage from insurers that have
at least $15,000,000 in policyholders surplus and have the standards of
solvency or management necessary for the protection of policyholders;
or
f) to process all surplus line
business on Illinois risks through the Surplus Line Association; or
g) to maintain records and accounts pursuant
to Section 445 of the Code; or
h)
to maintain membership in the Surplus Line Association of Illinois;
or
i) to comply with the
requirements of the Illinois Insurance Code or 50 Ill. Adm. Code.
Notes
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