§ 83-23-233. Stay of judicial proceedings upon order of liquidation, rehabilitation, or conservation
All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed one hundred and eighty (180) days from the date an order of liquidation, rehabilitation or conservation is final to permit proper legal action by the association on any matters germane to its powers or duties. As […]
§ 83-23-235. Use of association’s name in insurance advertisements or solicitations; association to prepare document describing general purposes and limitations of association
No person, including an insurer, agent or affiliate of an insurer shall make, publish, disseminate, circulate or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated or placed before the public in any newspaper, magazine or other publication, or in the form of a notice, circular, pamphlet, letter or […]
§ 83-23-237. Applicability of amendments by Chapter 358, Laws of 2014
The amendments made to this article by this act during the 2014 Regular Session of the Legislature shall not apply to any member insurer that, before March 17, 2014, has been placed under an order of liquidation with a finding of insolvency.
§ 83-23-227. Regulation by commissioner; annual report
The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner, each year not later than one hundred twenty (120) days after the association’s fiscal year, a financial report in a form approved by the commissioner and a report of its activities during the preceding […]
§ 83-23-229. Tax status of association
The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property.
§ 83-23-231. Immunity of member insurers, employees, directors of association and similar organizations
There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the commissioner or his representatives, for any action or omission by them in […]
§ 83-23-215. Powers of association
If a member insurer is an impaired insurer, the association may, in its discretion, and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer, and that are approved by the commissioner: Guarantee, assume or reinsure, or cause to be guaranteed, assumed or reinsured, any or […]
§ 83-23-217. Assessments against member insurers; classes; refunds; treatment of assessments on financial statements of member insurers; protest of assessment
For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such time and for such amounts as the board finds necessary. Assessments shall be due not less than thirty (30) days after prior […]
§ 83-23-218. Member insurers permitted to offset assessment against taxes
From and after July 1, 1993, a member insurer may offset against its (premium, franchise or income) tax liability (or liabilities) to this state an assessment described in Section 83-23-217(8) to the extent of twenty percent (20%) of the amount of such assessment, if any, for each year over the next five (5) succeeding years. […]
§ 83-23-219. Plan of operation; approval by commissioner; contents of plan
The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable and equitable administration of the association. The plan of operation and any amendments thereto shall become effective upon the commissioner’s written approval or unless it has not been disapproved within thirty (30) […]