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

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

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: Amount of the insurance and perils insured; Brief description of the property insured and its location; Gross premium charged; Any return premium paid; Rate of premium charged upon the several items of property; Effective date of the contract, and the terms of the contract; Name and address of the insured; Name and address of the insurer; Amount of tax and other sums to be collected from the insured; Identity of the producing broker, any confirming correspondence from the insurer or its representative, and the application; and 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. History (1985, c. 688, s. 1; 1991, c. 644, s. 42; 2018-120, s. 2.1(k); 2019-179, s. 2(c).) Effect of Amendments. - Session Laws 2018-120, s. 2.1(k), effective June 28, 2018, substituted "five years" for "three years" in the middle of the ending undesignated paragraph and made minor stylistic changes throughout the section. Session Laws 2019-179, s. 2(c), effective July 26, 2019, deleted "in this State" following "office" in the first sentence of the first paragraph; and added subdivision (11) and made related changes.