CHAPTER 6. Surplus Line Brokers [1760. - 1780.]

Chapter 6 enacted by Stats. 1935, Ch. 145.

§§ 1760–1780 · 48 sections

§ 1760 (a) A home state insured, as defined in subdivision (f) of Section 1760.1, may negotiate and effect insurance to protect himself, herself, or itself against…
§ 1760.1 For the purposes of this chapter, the following terms have the following definitions: (a) “Certified” means an originally signed or sealed statement, dated not…
§ 1760.2 The surplus line broker shall be responsible for determining whether an applicant for nonadmitted insurance is a California home state insured. A surplus line…
§ 1760.5 (a) The provisions of this chapter limiting the insurance that may be placed with nonadmitted insurers and requiring any report thereof shall not apply to: (1)…
§ 1760.6 For purposes of Section 1760.5, “spacecraft” means missiles, satellites, staffed and unstaffed space vehicles, any objects intended for launch, or objects…
§ 1760.7 In addition to the authority granted by Section 1760.5, the commissioner has the discretion to direct special lines’ surplus line brokers to not place further…
§ 1761 (a) Except as provided in Sections 1760 and 1760.5, and paragraphs (1) and (2) of subdivision (b), a person within this state shall not transact any insurance…
§ 1762 For purposes of Sections 1764, 1764.1, and 1764.3, the term “certificate” means a surplus line broker certificate as defined in Section 48.
§ 1763 (a) A surplus line broker may solicit and place insurance for a home state insured, other than as excepted in Section 1761, with nonadmitted insurers only if…
§ 1763.1 (a) The commissioner may by order declare permissible for placement for a home state insured with a nonadmitted insurer and exempt from all requirements of…
§ 1763.2 (a) A licensed surplus line broker may originate surplus lines business, or may accept that business from any other originating licensee duly licensed for the…
§ 1763.5 In addition to the requirements of Section 1763, no surplus line broker shall solicit from, or place with, any nonadmitted insurer, any insurance covering…
§ 1764 (a) A licensed surplus line broker may issue evidence of insurance for a home state insured, including binders, covernotes, and certificates evidencing the…
§ 1764.1 (a) (1) Every nonadmitted insurer, in the case of insurance to be purchased by a home state insured pursuant to Section 1760, and surplus line broker, in the…
§ 1764.2 No surplus line broker shall issue any evidence of insurance or cause or purport to cause any risk to be insured by a nonadmitted insurer or advise any home…
§ 1764.3 If the surplus line broker acts in reliance on advice received in accordance with subdivision (b) of Section 1764.2, the broker shall deliver the policy to the…
§ 1764.4 The prior written authority, policy of insurance or copy of evidence that insurance has been bound referred to in Section 1764.2, shall contain authentication…
§ 1764.5 If insurance results from a transaction in which any provision of Sections 1764.2 to 1764.4 is violated, such insurance is subject to cancellation by the…
§ 1764.7 Any person who willfully violates Section 1760.5, 1761, 1763, 1764, 1764.1, 1764.2, 1764.3, 1764.4, 1765.1, 1765.2, 1767
§ 1765 (a) A license under this chapter shall be applied for and renewed by the filing with the commissioner of a written application therefor, in accordance with…
§ 1765.1 No surplus line broker shall place any coverage with a nonadmitted insurer for a home state insured unless the insurer is domiciled in the Republic of Mexico…
§ 1765.2 A surplus line broker may place any coverage with a California-approved nonadmitted insurer if the insurer is domiciled in the Republic of Mexico and the…
§ 1765.3 (a) A license under this chapter may be issued to an individual or any legal business entity. If issued to a business entity or individual that maintains more…
§ 1765.4 Any natural person applying for a license to act as a surplus line broker shall prove his or her competency by showing he or she holds an existing license to…
§ 1765.5 If an applicant for any license under this chapter, within one year from the date of the receipt by the commissioner of the application, whether or not the…
§ 1766 A payment of premium to a surplus line broker acting for a person other than himself or herself in negotiating, continuing, or renewing any policy of insurance…
§ 1767 A resident surplus line broker at all times shall maintain in good faith an office in this state and if he or she maintains more than one surplus line office…
§ 1768 A resident surplus line broker shall keep in this state complete records of the business transacted by him or her for California home state insureds with…
§ 1769 Whenever required so to do by the commissioner, such surplus line broker shall furnish to the commissioner a list of the admitted insurers from which the…
§ 1770 The commissioner, whenever he deems necessary, may examine the books and accounts of any surplus line broker for the purpose of determining whether or not the…
§ 1771 The costs and expenses of all examinations by the commissioner shall be paid as prescribed in Section 736.
§ 1772 (a) A surplus line insurer may be sued upon any cause of action arising in this state under any surplus line insurance contract made by it, or any evidence of…
§ 1773 Surplus line brokers may advertise and solicit using print, electronic media, direct mail, and all other advertising or marketing media. These advertisements…
§ 1774 (a) (1) On or before the first day of March of each year the surplus line broker, placing business for a home state insured, shall file with the commissioner a…
§ 1775 All such reports and statements shall be made on blanks furnished to the surplus line broker by the commissioner on application therefor.
§ 1775.1 (a) Each calendar year, every surplus line broker whose annual tax for the preceding calendar year was twenty thousand dollars ($20,000) or more shall make…
§ 1775.2 On or before February 1 of each year, the commissioner shall post on the department’s Internet Web site the installment payment forms prescribed by the…
§ 1775.3 Each surplus line broker required to make monthly installment payments shall remit them on or before the first day of the third calendar month following the…
§ 1775.4 (a) The amount of the payment shall be 3 percent of the gross premiums charged less return premiums upon business done by the surplus line broker during the…
§ 1775.5 (a) Every surplus line broker shall annually, on or before the first day of March of each year, pay to the Insurance Commissioner for the use of the State of…
§ 1775.6 All tax moneys received by the commissioner pursuant to this chapter shall be transmitted to the State Treasurer to be deposited in the State Treasury to the…
§ 1775.7 The money in the Insurance Tax Fund received from the commissioner pursuant to Section 1775.6 is hereby appropriated as follows: (a) To pay the refunds…
§ 1775.8 (a) On and after January 1, 1994, and before January 1, 1995, every surplus line broker whose annual taxes for business done in calendar year 1992 or whose…
§ 1775.9 (a) If the commissioner determines that the amount of tax reported by the surplus line broker is less than the tax disclosed by the commissioner’s examination,…
§ 1776 Any surplus line broker who willfully fails or refuses to report to the commissioner any insurance on subject matter located within this state placed under his…
§ 1778 When a surplus line broker’s license is revoked for any reason other than the insufficiency of his sureties, a new license shall not be issued to him within…
§ 1779 Every California home state insured for whom insurance has been effected with nonadmitted insurers shall, upon request in writing by the commissioner, produce…
§ 1780 A licensee or applicant for a license under this chapter shall notify the commissioner, in writing, of any change in the address from which he intends to…