38.2-4807 - Licensees to keep records and file annual statement of policies. - Virginia Statutes

§ 38.2-4807. Licensees to keep records and file annual statement of policies.

A. Every licensed surplus lines broker shall keep in his office a completerecord of, and file on a form prescribed by the Commission in the office ofthe Commission annually on or before March 1, subject to § 38.2-1304 astatement setting forth (i) each policy of insurance procured by him underthis chapter during the previous calendar year; (ii) the name and address ofthe insurer or insurers; (iii) the inception and expiration dates of eachpolicy; (iv) the perils insured against; (v) the location of each risk soinsured and the premium rate and the gross premium charged for each suchpolicy of insurance; (vi) the amount of premium returned; and (vii) any otherinformation the Commission requires.

B. The record of each policy of insurance shall be kept open at allreasonable times to examination by the Commission without notice for a periodof not less than five years following termination of the policy.

(Code 1950, § 38.1-314.8; 1960, c. 503; 1979, c. 513, § 38.1-327.53; 1986, c.562; 2001, c. 706.)