(a) Each request for surplus lines eligibility shall be accompanied by the following financial information so that verification of compliance with the eligibility requirements can be made:

(1) annual statements for the preceding two years in the form required under G.S. 58-2-165 for companies licensed in at least one state in the United States;

(2) for alien insurance companies, annual financial reports for the preceding two years in the English language and in U.S. dollar amounts;

(3) a certified copy of the latest report on examination and CPA report or, if the company is not required to be examined by any jurisdiction, a copy of the latest CPA report and management letter; and

(4) an actuarial certification of the loss reserves and loss adjustment expense reserves for the most recent year if such certification is available.

(b) An alien insurer shall file a copy of its United States trust agreement and shall also file with and be approved by the International Insurers Department of the NAIC to be eligible in North Carolina.

(Authority G.S. 58-2-40; 58-2-165; 58-21-20; Eff. April 1, 1990; Amended Eff. July 1, 2004; February 1, 1996; April 1, 1993.)

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