§ 431-8-312

§431:8-312 Records of surplus lines broker. (a) Each licensed surplus lines broker shall keep in the broker's office in this State a full and true record of each surplus lines contract placed by the broker including a copy of the policy, certificate, cover note, or other evidence of insurance including, as applicable: (1) Amount of the insurance and perils insured; (2) Brief description of the property insured and its location; (3) Gross premium, taxes, and fees charged; (4) Any return premium, taxes, and fees paid; (5) Rate of premium charged upon the several items of property; (6) Effective date of the contract and its terms; (7) Name, address, and home state of the insured; (8) Name and address of the insurer; (9) Amount of tax and other sums to be collected from the insured; and (10) Any additional information required by the commissioner. (b) For each contract of insurance placed by a surplus lines broker, the broker shall maintain a written statement as to the diligent efforts by the surplus lines broker or the producer to place the insurance with authorized insurers. (c) The record of each contract shall be kept open at all reasonable times to examination by the

t efforts by the surplus lines broker or the producer to place the insurance with authorized insurers. (c) The record of each contract shall be kept open at all reasonable times to examination by the commissioner without notice for a period not less than five years following the termination of the contract. [L 1987, c 347, pt of §2; am L 1989, c 207, §7; am L 2002, c 155, §19; am L 2011, c 68, §11; am L 2019, c 216, §3]