5904 – Risk Retention Groups Not Chartered in This State.
§ 5904. Risk retention groups not chartered in this state. A risk retention group not chartered and licensed as a property/casualty insurer in this state, seeking to do business or doing business as a risk retention group in this state, shall comply with the laws of this state, as follows: (a) Notice of operations and […]
5905 – Risk Retention Groups; Notice, Prohibited Solicitation, Coverage and Ownership.
§ 5905. Risk retention groups; notice, prohibited solicitation, coverage and ownership. (a) Notice to purchasers. (1) Every insurance policy issued by a risk retention group shall contain in ten point type on the front page and on the declaration page, the following notice: NOTICE This policy is issued by your risk retention group. Your risk […]
5906 – Security Funds and Compulsory Associations.
§ 5906. Security funds and compulsory associations. (a) No risk retention group shall be required or permitted to join or contribute financially to any insurance insolvency security 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 […]