§ 23-65-313 - Records of brokers. - Arkansas Statutes

23-65-313. Records of brokers.

(a) Each surplus lines broker shall keep in his or her office a full and true record of each Arkansas surplus lines contract procured by him or her, including a copy of the daily report, if any, and showing such of the following items as may be applicable:

(1) Amount of the insurance;

(2) Gross premium charged;

(3) Return premium paid, if any;

(4) Rate of premium charged upon the several items of property;

(5) Effective date of the contract, and the terms thereof;

(6) Name and address of the insurer;

(7) Name and address of the insured;

(8) Brief general description of property insured and where located; and

(9) Other information as may be required by the Insurance Commissioner.

(b) The records shall at all times be open to examination by the commissioner and shall be kept available and open to inspection by the commissioner for five (5) years next following the termination of the contracts.