(1) The commissioner may revoke any surplus line broker's license:
If the broker fails to file the annual statement or to remit the tax as required by thisarticle; or
If the broker fails to keep the records, or to allow the commissioner to examine thebroker's records as required by this article; or
For any of the causes for which a general broker's license may be revoked.
The commissioner may suspend or revoke any such license whenever the commissioner deems suspension or revocation to be for the best interest of the people of this state.
The procedures provided by law for the suspension or revocation of general brokers'licenses shall be applicable to suspension or revocation of a surplus line broker's license.
No broker whose license has been so revoked or suspended shall again be so licensedwithin one year thereafter or until any fines or delinquent taxes owing by the broker have been paid.
Source: L. 49: p. 470, § 12. CSA: C. 87, § 329. CRS 53: § 72-14-12. C.R.S. 1963: § 7213-12. L. 95: IP(1) amended, p. 496, § 14, effective May 16. L. 2001: (1)(b) amended, p. 1213, § 40, effective January 1, 2002. L. 2005: (1)(a), (2), and (4) amended, p. 736, § 3, effective January 1, 2006.
Cross references: For limitation on revocation of licenses, see article 4 of title 24; for the procedure for revocation of broker's license, see part 8 of article 2 of this title 10.