If surplus line insurance was transacted in the preceding calendar quarter, the surplus line broker shall file a quarterly report as prescribed by the commissioner setting forth facts from which it can be determined whether the coverage has been lawfully placed as a surplus line. If required by the commissioner, the report shall be accompanied by a written statement signed by the insured acknowledging the coverage was placed with an unauthorized insurer with the insured’s knowledge and consent.
History: (Acts 1963, No. 521, p. 1112, §8; Acts 1971, No. 407, p. 707, §196; Act 2024-71, §2.)