1. A. After procuring any surplus line insurance, the broker shall execute and file with the Insurance Commissioner a report under oath, setting forth facts from which it may be determined whether the requirements of Section 1106 of this title have been met, and in addition thereto the following:

   1. 1. Name and address of the insurer, and name and address of the person named in the policy pursuant to Section 1118 of this title to whom the Insurance Commissioner shall send copies of legal process;
   2. 2. Number of the policy issued;
   3. 3. Name and address of the insured;
   4. 4. Nature and amount of liability assumed by the insurer;
   5. 5. Premium, and any membership, application, policy or registration fees; and
   6. 6. Other information reasonably required by the Insurance Commissioner.
2. B. The Insurance Commissioner shall prescribe and furnish the required report form. The Insurance Commissioner shall have the authority to grant approval to the surplus line broker for the master bordereau style reporting of surplus line activity on a quarterly basis.
3. C. Failure to file the report shall result, after notice and hearing, in censure, suspension, or revocation of license or a fine of up to Five Hundred Dollars ($500.00) for each occurrence or by both such fine and licensure penalty.
4. D. The brokers' affidavits and report shall be submitted on or before the end of each month following each calendar quarter.

Laws 1987, HB 1030, c. 175, § 7, eff. November 1, 1987; Amended by Laws 1991, SB 175, c. 146, § 2, eff. September 1, 1991; Amended by Laws 2010, SB 2054, c. 222, § 16, eff. November 1, 2010 (superseded document available).