§ 8008. Notice and registration requirements of purchasing groups.
§ 8008. Notice and registration requirements of purchasing groups. (a) A purchasing group which intends to do business in this State shall, prior to doing business, furnish notice to the Commissioner which shall: (1) Identify the state in which the group is domiciled; (2) Identify all other states in which the group intends to do […]
§ 8009. Restrictions on insurance purchased by purchasing groups.
§ 8009. Restrictions on insurance purchased by purchasing groups. (a) A purchasing group may not purchase insurance from a risk retention group that is not chartered in a state or from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed agent or […]
§ 8010. Purchasing group taxation.
§ 8010. Purchasing group taxation. Premium taxes and taxes on premiums paid for coverage of risks resident or located in this State by a purchasing group or any members of the purchasing groups shall be: (1) Imposed at the same rate and subject to the same interest, fines and penalties as that applicable to premium […]
§ 8011. Administrative and procedural authority regarding risk retention groups and purchasing groups.
§ 8011. Administrative and procedural authority regarding risk retention groups and purchasing groups. The Commissioner is authorized to make use of any of the powers established under the Insurance Code of this State to enforce the laws of this State not specifically preempted by the Risk Retention Act of 1986 [15 U.S.C. § 3901 et […]
§ 7711. Defense of infancy to joint sureties or debtors.
§ 7711. Defense of infancy to joint sureties or debtors. Where several persons are bound together in any bond, bill or other writing or judgment as joint debtors or as joint sureties, in any sum of money, made payable to any person or corporation, the executors, administrators, successors, order or assigns, and 1 or more […]
§ 7712. Rights of surety or of joint debtor on payment of judgment.
§ 7712. Rights of surety or of joint debtor on payment of judgment. (a) If a judgment recovered against principal and surety shall be paid by the surety, the creditor shall mark such judgment to the use of the surety so paying the same; and the transferee shall, in the name of the plaintiff, have […]
§ 7713. Affidavit of sum due.
§ 7713. Affidavit of sum due. Before any transferee shall have the benefit of § 7712 of this title, the transferee shall file in the court, or before the justice of the peace where such proceedings are instituted, a statement of the sum due from the defendant with an affidavit that it is wholly unpaid. […]
§ 7714. Execution and effect of transfer.
§ 7714. Execution and effect of transfer. Transfers, by marking to the use of the persons paying such judgment, shall be in writing, signed by the plaintiff or by the plaintiff’s attorney of record, and after the date thereof, the plaintiff may not release, or discharge any of the debts or sums so paid, but […]
§ 7701. Execution and sufficiency of corporate suretyship.
§ 7701. Execution and sufficiency of corporate suretyship. (a) Whenever any bond, undertaking, recognizance or other obligation is by law or the charter, ordinances, rules or regulations of any municipality, board, body, organization or public officer required or permitted to be made, given, tendered or filed with surety or sureties, and whenever the performance of […]
§ 7702. Acceptance and approval by public officers.
§ 7702. Acceptance and approval by public officers. (a) Any public officer or department of state, county or municipal government, whose duty it may be to approve the surety upon any bond or bonds, may accept and approve such bonds when executed by the principal therein and by any surety insurer qualified to act as […]