31A-19a-305. Anti-competitive agreements prohibited.
- (1)
- (a) An insurer may not assume any obligation to any person other than a policyholder or other company under common control, to use or adhere to certain rates or rating procedures.
- (b) Except for a policyholder or other company under common control, a person may not impose any penalty or other adverse consequence for failure of an insurer to adhere to certain rates or rating procedures.
- (2) This section does not apply to rates used:
- (a) by a joint underwriting group;
- (b) by a pool;
- (c) under quota share reinsurance treaties; or
- (d) by a residual market mechanism.
Renumbered and Amended by Chapter 130, 1999 General Session