§ 56-14-116 — Keeping of records

(a) Each surplus lines agent shall keep in the agent's office in this state a full and true record of each surplus lines contract procured by the agent for or on behalf of an insured whose home state is the state of Tennessee, including a copy of the daily report, if any, and showing such of the following items as may be applicable: (1) Amount of the insurance and perils insured against; (2) Brief general description of property insured and where located; (3) Gross premium charged; (4) Return premium paid, if any; (5) Rate of premium charged upon the several items of property; (6) Effective date of the contract and its terms; (7) Name and post office address of the insured; (8) Name and home office address of the insurer; (9) Amount collected from the insured; and (10) Other information as required by the commissioner. (b) The record shall at all times be open to examination by the commissioner without notice, and shall be kept available and open to the commissioner for three (3) years next following expiration or cancellation of the contract.

Legislative History

Acts 1969, ch. 270, § 16; T.C.A., § 56-3816; Acts 2011, ch. 446, § 1.