§ 58-21-15. Placement of surplus lines insurance.
§58‑21‑15. Placement of surplus lines insurance.
Insurance may be procuredthrough a surplus lines licensee from nonadmitted insurers if:
(1) Each insurer is aneligible surplus lines insurer;
(2) The full amount orkind of insurance cannot be obtained from insurers who are admitted to dobusiness in this State. Such full amount or kind of insurance may be procuredfrom eligible surplus lines insurers, provided that a diligent search is madeamong the insurers who are admitted to transact and are actually writing theparticular kind and class of insurance in this State; and
(3) All otherrequirements of this Article are met. (1985, c. 688, s. 1; 1985(Reg. Sess., 1986), c. 1013, s. 5.)