Section 1768 Of Chapter 6. Surplus Line Brokers From California Insurance Code >> Division 1. >> Part 2. >> Chapter 6.
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 nonadmitted insurers under his or
her license as a surplus line broker including all of the following
documentation for each policy:
(a) Verification that the insured is a California home state
insured.
(b) Verification that the commercial insured or industrial insured
qualifies for the provisions of this code.
(c) Whether or not it is a single state policy or multistate
policy.
(d) Where allocation of premium to the states is required, data
necessary to make that allocation. A nonresident surplus line broker
shall keep in the state where he or she is licensed as a resident
surplus line broker complete records of the business transacted by
him or her for California home state insureds with nonadmitted
insurers under his or her California nonresident surplus line broker
license, including subdivisions (a) to (d), inclusive. The
commissioner may waive or modify any of the foregoing requirements by
issuance of a notice published on the department's Internet Web
site.