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:
I. Prohibit the establishment of a purchasing group;
II. Make it unlawful for an insurer to provide or offer to provide insurance on a basis providing, to a purchasing group or its members, advantages based on their loss and expense experience not afforded to other persons with respect to rates, policy forms, coverages or other matters;
III. Prohibit a purchasing group or its members from purchasing insurance on a group basis described in paragraph II of this section;
IV. Prohibit a purchasing group from obtaining insurance on a group basis because the group has not been in existence for a minimum period of time or because any member has not belonged to the group for a minimum period of time;
V. Require that a purchasing group must have a minimum number of members, common ownership or affiliation, or certain legal form;
VI. Require that a certain percentage of a purchasing group must obtain insurance on a group basis; or
VII. Otherwise discriminate against a purchasing group or any of its members.
Source. 1988, 133:2. 2010, 212:10, eff. Jan. 1, 2011.