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N.C. Gen. Stat. § 58-21-75

Records of surplus lines licensee

Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
Each surplus lines licensee shall keep in his or her office a full and true record of each surplus lines insurance contract placed by or through the licensee, including a copy of the policy, certificate, cover note, or other evidence of insurance. The record shall include the following items:
Each surplus lines licensee shall keep in his or her office a full and true record of each surplus lines insurance contract placed by or through the licensee, including a copy of the policy, certificate, cover note, or other evidence of insurance. The record shall include the following items:
(1) Amount of the insurance and perils insured;
(1) Amount of the insurance and perils insured;
(2) Brief description of the property insured and its location;
(2) Brief description of the property insured and its location;
(3) Gross premium charged;
(3) Gross premium charged;
(4) Any return premium paid;
(4) Any return premium paid;
(5) Rate of premium charged upon the several items of property;
(5) Rate of premium charged upon the several items of property;
(6) Effective date of the contract, and the terms of the contract;
(6) Effective date of the contract, and the terms of the contract;
(7) Name and address of the insured;
(7) Name and address of the insured;
(8) Name and address of the insurer;
(8) Name and address of the insurer;
(9) Amount of tax and other sums to be collected from the insured;
(9) Amount of tax and other sums to be collected from the insured;
(10) Identity of the producing broker, any confirming correspondence from the insurer or its representative, and the application; and
(10) Identity of the producing broker, any confirming correspondence from the insurer or its representative, and the application; and
(11) Copy of the compliance agreement.
(11) Copy of the compliance agreement.
The record of each contract shall be kept open at all reasonable times to examination by the Commissioner without notice for a period not less than five years following termination of the contract.
The record of each contract shall be kept open at all reasonable times to examination by the Commissioner without notice for a period not less than five years following termination of the contract.
History

Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.