Sec. 38a-794. (Formerly Sec. 38-78). Surplus lines broker's license. Regulations re unauthorized insurers.
Sec. 38a-794. (Formerly Sec. 38-78). Surplus lines broker's license. Regulations re unauthorized insurers. (a) Any applicant for a surplus lines broker's license
shall be a person, firm, association or corporation who or which is domiciled and maintains an office in this state or a nonresident who or which desires to act within this state,
and is licensed as an insurance producer. A surplus lines broker's license shall authorize
the licensee to procure, from insurers not authorized to transact business in this state,
subject to the restrictions herein provided, policies of insurance against loss from any
contingency as provided by the insurance laws of this state, except any insurance coverage which can be placed through a residual market mechanism, as defined in subsection
(x) of section 38a-976.
(b) At the time of application for a surplus lines broker's license, the applicant shall
pay to the commissioner the fee specified in section 38a-11. Any such license issued
shall be in force until September thirtieth of the next even-numbered year unless sooner
revoked or suspended. The license may, in the discretion of the commissioner, be renewed for the ensuing period of twenty-four months upon payment of the fee specified
in section 38a-11.
(c) The commissioner may waive the examination required under section 38a-769,
in the case of an applicant who at any time within two years next preceding the date of
application has been licensed in this state under a license of the same type as the license
applied for.
(1953, 1955, S. 2799d; 1961, P.A. 8; 1967, P.A. 28; 157; 1971, P.A. 441; 870, S. 98; P.A. 76-436, S. 632, 681; P.A.
77-603, S. 115, 125; P.A. 78-280, S. 5, 127; P.A. 85-102, S. 1; P.A. 88-230, S. 1, 12; P.A. 89-251, S. 182, 203; P.A. 90-87, S. 1; 90-243, S. 35; P.A. 94-160, S. 21, 24; P.A. 95-136, S. 6, 8.)
History: 1961 act added licensed insurance brokers to the persons who may be licensed as excess line brokers; 1967
acts made provisions applicable to person, firm, etc. domiciled "and" maintaining office in state rather than domiciled "or"
maintaining such office and deleted provision making commissioner's power under section "subject to section 38-23" and
replaced previous provision authorizing suspension or revocation of license if commissioner judges such action "will best
promote the interests of the people of this state" with more detailed provisions re hearings, appeals, etc. and authorizing
imposition of fine; 1971 acts made previous provisions Subsecs. (a) and (c) inserting new Subsec. (b) re commissioner's
regulation power and replaced superior court with court of common pleas, effective September 1, 1971, except that courts
with cases pending retain jurisdiction unless pending matters deemed transferable; P.A. 76-436 replaced court of common
pleas with superior court, effective July 1, 1978; P.A. 77-603 replaced previous detailed appeal provisions with provision
requiring that appeals be made in accordance with Sec. 4-183 but retained venue in Hartford county and privilege re order
of trial; P.A. 78-280 replaced "Hartford county" with "judicial district of Hartford-New Britain"; P.A. 85-102 amended
Subsec. (a) to change reference to "assigned risk plan" to "residual market mechanism"; P.A. 88-230 replaced "judicial
district of Hartford-New Britain" with "judicial district of Hartford", effective September 1, 1991; P.A. 89-251 established
a fee for eligible surplus lines insurers of $63; P.A. 90-87 amended Subsec. (a) to differentiate between a resident excess
lines broker and a nonresident excess lines broker and to allow the commissioner to issue an excess lines broker's license
to a nonresident excess lines broker; P.A. 90-243 substituted "surplus lines broker" for "excess lines broker", deleted
Subsecs. (b) and (c) re commissioner's powers and appeal procedure and added new Subsecs. (b) and (c) re licensing of
surplus lines brokers and a waiver of examination which is at the discretion of the insurance commissioner; Sec. 38-78
transferred to Sec. 38a-794 in 1991; P.A. 94-160 substituted "producer" for "agent or insurance broker" to accurately
reflect the modernization and nomenclature of the industry, effective January 1, 1996; P.A. 95-136 amended Subsec. (b)
to change the duration of surplus lines broker's license from two years from the date of its issuance to September thirtieth
of the next even-numbered year, effective January 1, 1996.
Annotation to former section 38-78:
Cited. 208 C. 505.
Annotation to present section:
Cited. 239 C. 658.