Surplus lines may be placed by a surplus lines licensee if all of the following apply:

(1)        Each insurer is an eligible surplus lines insurer.

(1a)      Each insurer is authorized to write the kind of insurance in its domiciliary jurisdiction.

(2)        The full amount or kind of insurance cannot be obtained from insurers who are admitted to do business in this State. Such full amount or kind of insurance may be procured from eligible surplus lines insurers, provided that a diligent search is made among the insurers who are admitted to transact and are actually writing the particular kind and class of insurance in this State.

(3)        All other requirements of this Article are met. ?(1985, c. 688, s. 1; 1985 (Reg. Sess., 1986), c. 1013, s. 5; 2011-120, s. 4.)

Terms Used In North Carolina General Statutes 58-21-15

  • Eligible surplus lines insurer: means an alien insurer as defined in N. See North Carolina General Statutes 58-21-10
  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
  • Surplus lines licensee: means a person licensed under N. See North Carolina General Statutes 58-21-10
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