North Dakota Code 26.1-44-06 – Records of surplus lines producer
1. If the insured’s home state is this state, each surplus lines producer shall keep in this state a full and true record of each surplus lines insurance contract placed by or through the producer, including a copy of the policy, certificate, cover note, or other evidence of insurance showing each of the following applicable items:
Terms Used In North Dakota Code 26.1-44-06
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
- Property: includes property, real and personal. See North Dakota Code 1-01-49
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
a. Amount of the insurance, risks, and perils insured; b. Brief description of the property insured and its location; c. Gross premium charged; d. Any return premium paid; e. Rate of premium charged upon the several items of property; f. Effective date and terms of the contract; g. Name and address of the insured; h. Name and address of the insurer; i. Amount of tax and other sums to be collected from the insured; j. Identity of the producer of record; k. Any confirming correspondence from the insurer or its representative; and l. The application.
2. The surplus lines producer shall keep open the record of each contract at all reasonable times to examination by the commissioner without notice for a period not less than five years following termination of the contract. In lieu of maintaining offices in this state, each nonresident surplus lines producer shall make available to the commissioner any and all records that the commissioner deems necessary for examination.