If certain insurance coverages cannot be procured from authorized insurers, such coverages, hereinafter designated "surplus lines," may be procured from nonadmitted insurers, subject to the following conditions:

1. 1. The insurance must be procured through a licensed producer with surplus lines authority.

   [PL 1997, c. 592, §50 (AMD).]

2. 2. The desired coverage is necessary for the adequate protection of a risk in the State.

   [PL 1969, c. 132, §1 (NEW).]

3. 3. It may be written under the laws of this State by an authorized insurer.

   [PL 1969, c. 132, §1 (NEW).]

4. 4. The insurance is not available after diligent effort has been made to place the coverage with authorized insurers.

   [PL 1969, c. 132, §1 (NEW).]

PL 1969, c. 132, §1 (NEW). PL 1997, c. 592, §50 (AMD). PL 2025, c. 348, §15 (AMD).