§ 23-94-203. Definitions
As used in this subchapter: (1) “Commissioner” means the Insurance Commissioner of this state or the commissioner, director, or superintendent of insurance in any other state; (2) “Completed operations liability” means liability arising out of the installation, maintenance, or repair of any product at a site which is not owned or controlled by: (A) Any […]
§ 23-94-204. Domestic risk retention groups — Definitions
(a) (1) To be organized as a risk retention group in this state, the risk retention group must be organized and licensed to write only casualty insurance pursuant to this subchapter and, except as provided elsewhere in this subchapter, must comply with all of the laws, rules, and requirements applicable to such insurers licensed in […]
§ 23-94-205. Foreign risk retention groups
Risk retention groups chartered and licensed in states other than this state and seeking to do business as a risk retention group in this state must apply for and obtain a certificate of registration from the commissioner using the forms prescribed by the State Insurance Department. The commissioner shall issue a certificate of registration to […]
§ 23-94-206. Compulsory associations
(a) No risk retention group shall be required or permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its insureds or claimants against its insureds, receive any benefit from any such fund for claims arising under the insurance policies […]
§ 23-94-207. Purchasing groups — Exemption from certain laws
A purchasing group and its insurer or insurers shall be subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers shall be exempt, in regard to liability insurance for the purchasing group, from any law that would: (1) Prohibit the establishment of a purchasing group; (2) Make […]