| (a) On or before the 15th day of each month, the stamping
office must either directly provide or make easily obtainable to surplus
lines agents a report listing any surplus lines policies the agent
filed in the previous month that were untimely filed. The surplus
lines agent is responsible for confirming the accuracy of the report.
(b) For any policy listed in the report described in
subsection (a) of this section that the surplus lines agent believes
was timely filed, the agent must, on or before the earlier of 90 days
from the date of the report or February 15 of each year following
the year in which the policies were filed, either:
(1) correct any errors in the record using electronic
procedures established by the stamping office, or
(2) if the error in the record cannot be corrected
using electronic procedures established by the stamping office, the
agent must notify the stamping office that the agent believes the
policy was timely filed. The notification must identify the filing
at issue, describe any special factors or unique circumstances that
apply, and provide all necessary documentation to support the agent's
position that it was timely filed.
(3) Following receipt of notification described in
paragraph (2) of this subsection, on or before the earlier of either
30 days after receipt or March 1, the stamping office must review
and research the notification and then provide TDI with a summary
as well as the stamping office's opinion as to whether the policy
should be considered timely filed. On receiving the summary from the
stamping office, TDI will decide by the earlier of either 45 days
after receiving the stamping office's analysis or March 15 whether
the policy should be considered timely filed and notify the agent
and stamping office. If TDI determines that the policy should be considered
timely filed, the stamping office must make any necessary changes
to its records so that the policy is considered timely filed.
(c) An agent waives the right to later dispute the
timeliness for any filing if the agent fails to comply with the requirements
of subsection (b) of this section.
(d) Not later than the first business day of April
of each year, the stamping office must submit a report to TDI listing
all surplus lines policies that were not timely filed in the previous
calendar year. If TDI decides a policy should be considered timely
filed under subsection (b)(3) of this section, the filing will not
be included in the annual report. The annual report must be in a format
acceptable to the Commissioner, and it must reflect any corrections
made by the agent under subsection (b)(1) of this section or determinations
made by TDI under subsection (b)(3) of this section.
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