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► 15 U.S.C. § 8205 15 u.s.c. · state-based insurance reform · title 15
15 U.S.C. § 8205
Streamlined application for commercial purchasers
Title 15 USC
● ACTIVE
Ch. 108
Jurisdiction Federal — United States
Chapter STATE-BASED INSURANCE REFORM
Primary Source uscode.house.gov ↗
Federation ID OM-USC15-SEC-87B186
► STATUTORY TEXT primary source · verbatim · uscode.house.gov

U.S.C. Title 15 - COMMERCE AND TRADE 15 U.S.C. United States Code, 2023 Edition Title 15 - COMMERCE AND TRADE CHAPTER 108 - STATE-BASED INSURANCE REFORM SUBCHAPTER I - NONADMITTED INSURANCE Sec. 8205 - Streamlined application for commercial purchasers From the U.S. Government Publishing Office, www.gpo.gov

§8205. Streamlined application for commercial purchasers

A surplus lines broker seeking to procure or place nonadmitted insurance in a State for an exempt commercial purchaser shall not be required to satisfy any State requirement to make a due diligence search to determine whether the full amount or type of insurance sought by such exempt commercial purchaser can be obtained from admitted insurers if— (1) the broker procuring or placing the surplus lines insurance has disclosed to the exempt commercial purchaser that such insurance may or may not be available from the admitted market that may provide greater protection with more regulatory oversight; and (2) the exempt commercial purchaser has subsequently requested in writing the broker to procure or place such insurance from a nonadmitted insurer.

(Pub. L. 111–203, title V, §525, July 21, 2010, 124 Stat. 1591.)

Source: uscode.house.gov — public domain Official Source ↗
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STATUTE / FEDERAL-CODE-SECTION
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The statutory text of 15 U.S.C. § 8205 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Chapter 108 — STATE-BASED INSURANCE REFORM
15 U.S.C. § 820115 U.S.C. § 820215 U.S.C. § 820315 U.S.C. § 820415 U.S.C. § 820515 U.S.C. § 820615 U.S.C. § 822115 U.S.C. § 822215 U.S.C. § 822315 U.S.C. § 823115 U.S.C. § 8232
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15 U.S.C.
Citation
15 U.S.C. § 8205
Status
● ACTIVE
Chapter
108 — STATE-BASED INSURANCE REFORM
Title
Commerce and Trade
Jurisdiction
Federal
Federation ID
OM-USC15-SEC-87B186
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v1.0
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Commerce and Trade — 15 U.S.C. § 8205