§ 83-55-5. Chartering of risk retention groups; submission of plan of operation; revisions of plan; information required
A risk retention group shall, pursuant to the provisions of the laws of this state be chartered and licensed to write only liability insurance pursuant to this chapter and, except as provided elsewhere in this chapter, must comply with all of the laws, rules, regulations and requirements applicable to such insurers chartered and licensed in […]
§ 83-55-7. Out-of-state chartered risk retention groups; requirements for doing business in state
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 shall comply with the laws of this state as follows: Notice of operations and designation of Commissioner as agent. Before offering insurance in this state, a risk retention group shall […]
§ 83-55-9. Risk retention groups not to participate in insolvency guaranty funds; no benefits to be received from funds
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 issued […]
§ 83-55-11. Policy not required to be countersigned
A policy of insurance issued to a risk retention group or any member of that group shall not be required to be countersigned.
§ 83-55-13. Purchasing group and insurer subject to all applicable state laws; exceptions
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: Prohibit the establishment of a purchasing group; Make it unlawful […]
§ 83-55-15. Purchasing group; notice of intent to do business; commissioner as agent for service; additional information required; preexisting groups
A purchasing group which intends to do business in this state shall, prior to doing business, furnish notice to the Commissioner which shall: Identify the state in which the group is domiciled; Identify all other states in which the group intends to do business; Specify the lines and classifications of liability insurance which the purchasing […]