California Insurance Code

§ 1763.2

INS § 1763.2 Effective Jan 1, 2007Div. 1 · Part 2 · Ch. 6

Statute text

(a)A licensed surplus line broker may originate surplus lines business, or may accept that business from any other originating licensee duly licensed for the type or types of insurance involved, and may compensate those licensees therefor.

(b)For any information involved in any insurance transaction described in subdivision (a), or involved in the eligibility of the risk for placement with a surplus line broker, the originating licensee shall use due care and diligence in the collection, preparation, and transmission of the information to the surplus line broker.

Legislative history

Amended by Stats. 2006, Ch. 538, Sec. 457. Effective January 1, 2007.