§ 58-21-75. Records of surplus lines licensee. - North Carolina Statutes

§58‑21‑75.  Records of surplus lines licensee.

Each surplus lines licenseeshall keep in his or her office in this State a full and true record of eachsurplus lines insurance contract placed by or through the licensee, including acopy of the policy, certificate, cover note, or other evidence of insurance. The record shall include the following items:

(1)        Amount of theinsurance and perils insured;

(2)        Brief description ofthe property insured and its location;

(3)        Gross premiumcharged;

(4)        Any return premiumpaid;

(5)        Rate of premiumcharged upon the several items of property;

(6)        Effective date ofthe contract, and the terms of the contract;

(7)        Name and address ofthe insured;

(8)        Name and address ofthe insurer;

(9)        Amount of tax andother sums to be collected from the insured; and

(10)      Identity of theproducing broker, any confirming correspondence from the insurer or itsrepresentative, and the application.

The record of each contract shallbe kept open at all reasonable times to examination by the Commissioner withoutnotice for a period not less than three years following termination of thecontract. (1985, c. 688, s. 1; 1991, c. 644, s. 42.)