(a) The commissioner may declare a surplus lines insurer ineligible if the commissioner has reason to believe that:
(1) Is in unsound financial condition or has acted in an untrustworthy manner;
(2) No longer meets standards set forth in subsection (c) of this section;
(3) Has willfully violated the laws of this state; or
(4) Does not conduct a proper claims practice;
(b) The commissioner shall promptly mail notice of all such declarations to each surplus lines licensee.
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