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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 15 U.S.C. § 8205 Streamlined application for commercial purchasers us united_states_code code_section 15 COMMERCE AND TRADE 108 STATE-BASED INSURANCE REFORM 8205 15 U.S.C. § 8205 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc15@119-100.zip /us/usc/t15/s8205 data/legal/raw/us/code/title-15/usc15.xml c0123b05218ebfa9bf99bd6db48f6c78d493313cd4fe95790a41db5c2ae001f4 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 5578a29a3f9828777679e154c19acb7714f05dc7721037396d3461428223af5f 2026-07-04 official
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15 U.S.C. § 8205 - Streamlined application for commercial purchasers

Text

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. 111203, title V, § 525, July 21, 2010, 124 Stat. 1591.)