58-32-39. Record by broker of each surplus line coverage--Violation as misdemeanor.

Each broker shall keep in the broker's office a record of each surplus line coverage procured by the broker, including a copy of each daily report, if any; a copy of each certificate issued by the broker; and the following items as may be applicable:

(1)    Amount of the insurance;

(2)    Gross premium charged;

(3)    Return premium paid, if any;

(4)    Rate of premium charged upon the several items of property;

(5)    Effective date of the contract, and the terms thereof;

(6)    Name and address of each insurer on the direct risk and the proportion of the entire risk assumed by such insurer if less than the entire risk;

(7)    Name and address of the insured;

(8)    Brief general description of the property or risk insured and where located or to be performed; and

(9)    Other information as may be required by the director.

A violation of this section is a Class 2 misdemeanor.

Source: SL 1966, ch 111, ch 11, § 16 (1); SL 1978, ch 359, § 2; SL 2015, ch 260, § 10.