§ 58-21-5. Purposes; necessity for regulation.
§58‑21‑5. Purposes; necessity for regulation.
This Article shall beliberally construed and applied to promote its underlying purposes, whichinclude:
(1) Protecting personsin this State seeking insurance;
(2) Permitting surpluslines insurance to be placed with reputable and financially sound nonadmittedinsurers and exported from this State pursuant to this Article;
(3) Establishing asystem of regulation that will permit orderly access to surplus lines insurancein this State and encourage admitted insurers to provide new and innovativetypes of insurance available to consumers in this State; and
(4) Protecting revenuesof this State. (1985, c. 688, s. 1.)