Section 58-32-39 - Record by broker of each surplus line coverage-Violation as misdemeanorEach broker shall keep in the broker's office a record of each surplus line coverage procured by the broker, including a copy of each daily report, if any; a copy of each certificate issued by the broker; and the following items as may be applicable:
(1) Amount of the insurance;(2) Gross premium charged;(3) Return premium paid, if any;(4) Rate of premium charged upon the several items of property;(5) Effective date of the contract, and the terms thereof;(6) Name and address of each insurer on the direct risk and the proportion of the entire risk assumed by such insurer if less than the entire risk;(7) Name and address of the insured;(8) Brief general description of the property or risk insured and where located or to be performed; and(9) Other information as may be required by the director.A violation of this section is a Class 2 misdemeanor.
SL 1966, ch 111, ch 11, § 16 (1); SL 1978, ch 359, § 2; SL 2015, ch 260, § 10.Amended by S.L. 2015, ch. 260,s. 10, eff. 7/1/2015.