626.930  Records of surplus lines agent.--

(1)  Each surplus lines agent shall keep in his or her office in this state a full and true record for a period of 5 years of each surplus lines contract, including applications and all certificates, cover notes, and other forms of confirmation of insurance coverage and any substitutions thereof or endorsements thereto relative to said contract procured by the agent and showing such of the following items as may be applicable:

(a)  Amount of the insurance and perils insured against;

(b)  Brief general description of property insured and where located;

(c)  Gross premium charged;

(d)  Return premium paid, if any;

(e)  Rate of premium charged upon the several items of property;

(f)  Effective date of the contract, and the terms thereof;

(g)  Name and post office address of the insured;

(h)  Name and home-office address of the insurer;

(i)  Amount collected from the insured; and

(j)  Other information as may be required by the department.

(2)  The record shall at all times be open to examination by the department without notice and shall be so kept available and open to the department for 5 years next following expiration or cancellation of the contract.

(3)  Each surplus lines agent shall maintain all surplus lines business records in his or her general lines agency office, if licensed as a general lines agent, or in his or her managing general agency office, if licensed as a managing general agent or the full-time salaried employee of such general agent.