The licensed surplus lines insurance producer seeking the placement of nonadmitted insurance must conduct a diligent search to ascertain whether the insurance, indemnity contract, or surety bond can be procured from a company authorized to do business in this state. The surplus lines insurance producer may rely on a diligent search done by a licensed insurance producer or the insured if the surplus lines insurance producer deems it sufficient.

History: Effective January 1, 1982; amended effective December 1, 2001; July 1, 2012; April 1, 2021; January 1, 2024.

General Authority: NDCC 26.1-44-09

Law Implemented: NDCC 26.1-44-02