20-411.02. Nonresident surplus lines broker; remittance of tax on insurance procured out of state A. The director shall license a nonresident person as a surplus lines broker in accordance with section 20-287. B. Except as otherwise provided, a nonresident surplus lines broker is subject to this title as if the broker were licensed as a […]
20-412. Acceptance of surplus lines business by broker A licensed surplus lines broker may accept or place surplus lines business from any insurance producer licensed in this state for the kind of insurance involved and may compensate the insurance producer therefor. The broker shall have the right to receive from the insurer the customary commission.
20-413. Placing of surplus lines coverage; endorsement by broker; list of unauthorized insurers; removal from list; definition A. A surplus lines broker shall not knowingly place any surplus lines coverage on behalf of an insured whose home state is Arizona with an unauthorized insurer, Lloyd’s association, insurance exchange or syndicate of an insurance exchange that […]
20-414. Records of surplus lines brokers Each surplus lines broker shall keep in the broker’s principal place of business a full and true record of each surplus lines contract procured by the broker under the license issued pursuant to this article. The director may examine the record at any time within three years after the […]
20-415. Statement of surplus lines insurance business transacted by broker; reporting periods; exception A. Each surplus lines broker shall file with the director a statement of all surplus lines insurance business covering Arizona risks transacted by the broker during the period for which the statement is being filed. The statement shall be on a form […]
20-416. Tax on surplus lines A. On or before the due date prescribed in section 20-415, each surplus lines broker shall remit to the state treasurer through the director a tax on the premiums, exclusive of sums collected to cover federal and state taxes, examination fees and stamping fees collected pursuant to section 20-167, on […]
20-416.01. Collection and payment of tax on surplus lines; multistate agreement A. In accordance with the nonadmitted and reinsurance reform act of 2010, the director may enter into a compact or multistate agreement to provide for the reporting, payment, collection and allocation of taxes imposed pursuant to sections 20-401.07 and 20-416 on surplus lines insurance […]
20-417. Failure to remit tax; civil penalty; exception A. If any surplus lines broker fails to remit the surplus lines tax provided for by section 20-416, the broker is liable for a civil penalty of not more than $25 for each additional day of delinquency. The director may collect the tax by distraint and may […]
20-418. Denial, revocation or suspension of license; civil penalty A. The director may deny or suspend for not more than twelve months, revoke or refuse to renew any surplus lines broker’s license and, in addition or in lieu thereof, may levy a civil penalty and order restitution to any injured party: 1. If the broker […]
20-419. Legal process against surplus lines insurer A. Every unauthorized nonresident insurer issuing or delivering a surplus lines policy through a surplus lines broker in this state is conclusively deemed to have irrevocably appointed the director as its agent for acceptance of service of all legal process issued in this state in any action or […]
20-420. Exemptions from surplus lines provisions A. The sections of this article relating to surplus lines coverages do not apply to reinsurance or to the following classes of insurance placed by licensed insurance producers of this state: 1. Ocean marine and foreign trade insurance. 2. Insurance on subjects that are located, resident or to be […]
20-421. Access of director to records of person insured by unauthorized insurer Upon the director’s request any person in this state who is the insured under any policy issued by an unauthorized insurer upon a subject of insurance resident, located or to be performed in this state at the time the policy was issued, shall […]
20-422. Alien insurance for coverage in Mexico A. A person shall not solicit or accept applications in this state for insurance or collect a commission on a policy that is to be effective in Mexico and only outside the geographical limits of this state and that is to be issued by an alien insurer or […]
20-423. Voluntary domestic organization of surplus lines brokers; membership; stamping fee collection; meetings; definition A. A voluntary domestic organization of surplus lines brokers that contracts with the director pursuant to section 20-167, subsection E shall be incorporated in this state as a nonprofit corporation. A surplus lines broker who is licensed and in good standing […]
