(a) The surplus line advisory organization shall be deemed a joint arrangement established by statute to assure the availability of insurance on a sound basis under paragraph (2) of subdivision (b) of Section 1861.03.

(b) All surplus line brokers licensed under the surplus line law shall be deemed to be members of the advisory organization.

Terms Used In California Insurance Code 1780.52

  • advisory organization: shall mean "surplus line advisory organization. See California Insurance Code 1780.51
  • State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
  • Statute: A law passed by a legislature.
  • surplus line advisory organization: shall mean the organization authorized to perform the duties delegated by the commissioner under this chapter and to exercise the authority incidental thereto. See California Insurance Code 1780.51
  • Surplus line broker: means a person licensed under Section 1765 and authorized to do business under Chapter 6 (commencing with Section 1760) of Part 2 of Division 1. See California Insurance Code 47

(c) Any member of the National Association of Registered Agents and Brokers, licensed as a surplus line broker in his, her, or its home state of residence or business and paying the applicable California license fee, shall be deemed to be members of the advisory organization. This subdivision shall not be effective unless and until the advisory organization recognizes in writing the National Association of Registered Agents and Brokers is incorporated and operating under its board-adopted bylaws.

(Amended by Stats. 2017, Ch. 477, Sec. 2. (AB 1641) Effective January 1, 2018.)

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