5901 – Title and Purpose.
§ 5901. Title and purpose. This article may be cited as the “risk retention groups and purchasing groups act.” The purpose of this article is to regulate the formation and/or operation in this state of risk retention groups and purchasing groups formed pursuant to the provisions of the federal Liability Risk Retention Act of 1986 […]
5902 – Definitions.
§ 5902. Definitions. The terms used in this article shall have the meanings set forth in this chapter, except to the extent added or modified by the following: (a) “Commissioner” means the commissioner, director or superintendent of financial services in any other state. (b) “Completed operations liability” means liability arising out of the installation, maintenance, […]
5903 – Domestic Risk Retention Groups.
§ 5903. Domestic risk retention groups. (a) A domestic risk retention group shall, pursuant to the provisions of this chapter, be chartered and licensed as a domestic property/casualty insurer to write only liability insurance pursuant to this article and, except as provided elsewhere in this article, shall comply with all of the laws, regulations and […]