H262 - Surplus Lines Amendments (SL 2015-101)

Overview: S.L. 2015-101, as amended by Sec. 7 of S.L. 2015-281, amends the Surplus Lines Act as follows:

• Amends the definition of "eligible surplus lines insurer" to include an "alien insurer."
• Allow a surplus lines insurer to file with the appropriate stamping office, in addition to filing relevant information with the Commissioner of Insurance.
• Effective January 1, 2017, repeals the requirement that nonresident surplus lines licensees be licensed under Article 33 of Chapter 58 of the General Statutes, Licensing of Agents, Brokers, Limited Representatives and Adjusters.
• Effective January 1, 2017, deletes language requiring a surplus lines licensee to have required reports to the Department of Insurance countersigned by a resident licensee or by a regulatory support organization.
• Effective January 1, 2017, makes changes the remittance of the surplus lines tax to conform to other changes in the act.

Except as otherwise provided, this act became effective June 19, 2015.