§ 23-65-308. Licensing of surplus lines broker
(a) If an insured’s home state is this state, a person shall not procure a contract of surplus lines insurance with a nonadmitted insurer unless the insurer possesses a current surplus lines broker’s license issued by the Insurance Commissioner. (b) A person, while licensed as a resident insurance producer of this state as to property, […]
§ 23-65-309. Acceptance of business from agents by surplus lines brokers
A licensed surplus lines broker may accept and place surplus lines business for an insurance agent or broker licensed in this state for the kind and class of insurance involved and may compensate the agent or broker therefor.
§ 23-65-103. Report and tax of independently procured coverages
(a) (1) An insured or self-insured whose home state is this state who directly procures, causes to be procured, continues, or renews insurance in an unauthorized insurer, including surplus lines insurance when procured without use of a surplus lines broker pursuant to the insurance laws of this state, within thirty (30) days after the date […]
§ 23-65-310. Surplus lines in solvent insurers
(a) A surplus lines broker shall place surplus lines insurance only with insurers that have been approved by the Insurance Commissioner. (b) (1) The commissioner may maintain a list of approved foreign and alien surplus lines insurers in addition to those alien insurers maintaining status on the current National Association of Insurance Commissioners’ nonadmitted insurers’ […]
§ 23-65-104. Records produced on order
(a) (1) Every person as to whom insurance is placed with an unauthorized insurer, upon the Insurance Commissioner’s order, shall produce for the commissioner’s examination all policies and other documents evidencing the insurance and shall disclose to the commissioner the amount of gross premiums paid or agreed to be paid for the insurance. (2) For […]
§ 23-65-311. Evidence of insurance — Changes
(a) (1) Upon placing a surplus lines coverage, the broker shall promptly issue and deliver to the insured evidence of the insurance, consisting either of the policy as issued by the insurer or the surplus lines broker’s certificate if the policy is not available. (2) (A) The certificate shall be executed by the broker and […]
§ 23-65-201. Title — Interpretation
(a) This subchapter constitutes and may be cited as the “Unauthorized Insurers Process Act”. (b) This subchapter shall be so interpreted as to effectuate its general purpose to make uniform the law of those states which enact it.
§ 23-65-312. Liability of insurer as to losses and unearned premiums
(a) (1) If a surplus lines risk has been assumed by an unauthorized insurer under this subchapter and the premium has been received by the surplus lines broker who placed the insurance, the insurer shall be deemed to have received the premium due to it for the coverage. (2) The insurer shall be liable to […]
§ 23-65-202. Commissioner process agent
Delivery, effectuation, or solicitation of any insurance contract, by mail or otherwise, within this state by an unauthorized insurer, or the performance within this state of any other service or transaction connected with such insurance by or on behalf of the insurer, shall be deemed to constitute an appointment by the insurer of the Insurance […]
§ 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 of his or her surplus lines contracts procured within this state where this state is the home state of the insured, including a copy of the daily report, if any, and showing the following items as […]