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Session Laws, 1987
Volume 769, Page 2043   View pdf image
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WILLIAM DONALD SCHAEFER, Governor                   Ch. 396

A POLICY OF INSURANCE ISSUED TO A RISK RETENTION GROUP OR
ANY MEMBER OF THAT GROUP MAY NOT BE REQUIRED TO BE COUNTERSIGNED.

622.

(A)  A PURCHASING GROUP MEETING THE CRITERIA ESTABLISHED
UNDER THE PROVISIONS OF THE FEDERAL LIABILITY RISK RETENTION ACT
OF 1986 SHALL BE EXEMPT FROM ANY LAW OF THIS STATE RELATING TO
THE CREATION OF GROUPS FOR THE PURCHASE OF INSURANCE, PROHIBITION
OF GROUP PURCHASING OR ANY LAW THAT WOULD DISCRIMINATE AGAINST A
PURCHASING GROUP OR ITS MEMBERS.

(B)  AN INSURER SHALL BE EXEMPT FROM ANY LAW OF THIS STATE
WHICH PROHIBITS PROVIDING, OR OFFERING TO PROVIDE TO A PURCHASING
GROUP OR ITS MEMBERS, ADVANTAGES BASED ON THEIR LOSS AND EXPENSE
EXPERIENCE NOT AFFORDED TO OTHER PERSONS WITH RESPECT TO RATES,
POLICY FORMS, COVERAGES, OR OTHER MATTERS.

(C)  A PURCHASING GROUP SHALL BE SUBJECT TO ALL OTHER
APPLICABLE LAWS OF THIS STATE.

623.

A PURCHASING GROUP WHICH INTENDS TO DO BUSINESS IN THIS.
STATE SHALL FURNISH NOTICE TO THE COMMISSIONER. THIS NOTICE
SHALL INCLUDE:

(A)  THE STATE IN WHICH THE GROUP IS DOMICILED;

(B)  THE LAWS AND CLASSIFICATIONS OF LIABILITY INSURANCE
WHICH THE PURCHASING GROUP INTENDS TO PURCHASE;

(C)  THE INSURANCE COMPANY FROM WHICH THE GROUP INTENDS TO
PURCHASE ITS INSURANCE AND THE DOMICILE OF SUCH COMPANY;

(D)  THE PRINCIPAL PLACE OF BUSINESS OF THE PURCHASING
GROUP; AND

(E)  SUCH OTHER INFORMATION AS THE COMMISSIONER MAY REQUIRE
IN ORDER TO VERIFY THAT THE PURCHASING GROUP IS QUALIFIED UNDER
SECTION § 617(J) OF THIS SUBTITLE.

624.

(A)  A PURCHASING GROUP SHALL PROVIDE THE COMMISSIONER WITH
A STATEMENT OF REGISTRATION DESIGNATING THE COMMISSIONER AS ITS
AGENT FOR THE PURPOSE OF RECEIVING SERVICE OF LEGAL DOCUMENTS OR
PROCESS.

(B)  THE REQUIREMENTS OF SUBSECTION (A) OF THIS SECTION DO
NOT APPLY TO A PURCHASING GROUP WHICH:

(1) (I) WAS DOMICILED BEFORE APRIL 1, 1986; AND

- 2043 -

 

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Session Laws, 1987
Volume 769, Page 2043   View pdf image
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