Licensing Requirements: Surplus lines brokers are required to be licensed under North Carolina law. N.C. Gen. Stat. §§ 58-21-65, 58-33-32. A resident applicant may receive a surplus lines license if they
Does the state impose a fiduciary obligation on producers with respect to the handling of client funds (e.g. funds, monies, premiums and return premiums)? No. An insurance producer may not, however,
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? Producers may charge a fee in addition to receiving
In order to charge a fee for services, the producer must obtain written consent from the client, issue a receipt, and prominently display a sign in the producer’s office informing
What entities are covered? “Any business that owns or licenses personal information of residents of North Carolina or any business that conducts business in North Carolina that owns or licenses
