New Jersey Revised Statutes § 17:22-6.47 - Submission Of Affidavit, Certification To Surplus Lines Agent

17:22-6.47.Submission of affidavit, certification to surplus lines agent

13. Within 30 business days after the effectuation of any surplus lines insurance the originating broker shall submit to the surplus lines agent an affidavit or certification by the broker, on a form prescribed and furnished by the commissioner, as to efforts made to place the coverage with authorized insurers and the results thereof, except that no such affidavit or certification shall be required for those coverages, risks or classes of insurance declared eligible for export by the commissioner pursuant to section 9 of P.L.1960, c.32 (C.17:22-6.43). The affidavit or certification shall be maintained in the files of the broker and the surplus lines agent and shall be available for inspection by the commissioner for a period of at least five years.

A broker who fails to submit the affidavit or certification to the surplus lines agent within the prescribed time is subject to the penalties provided under section 27 of P.L.1960, c.32 (C.17:22-6.61).

L.1960,c.32,s.13; amended 1981, c.250, s.3; 1996, c. 69, s.5.

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Last modified: October 11, 2016