(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(c) A surplus lines agent whose license has been revoked or suspended will not have a license issued, renewed, or a suspension lifted until all fines, penalties, delinquent taxes, and delinquent stamping office fees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.

Source Note: The provisions of this §15.4 adopted to be effective December 30, 2018, 43 TexReg 8455