Effective – 28 Aug 1991 375.1080. Definitions. — As used in sections 375.1080 to 375.1105, the following terms mean: (1) “Completed operations liability”, liability arising out of the installation, maintenance, or repair of any product at a site which is not owned or controlled by: (a) Any person who performs that work; or (b) Any […]
Effective – 28 Aug 1992 375.1082. Type of insurance allowed — annual statement, form — requirements for charter, contents of application. — 1. A risk retention group shall be chartered and licensed to write only liability insurance pursuant to sections 375.1080 to 375.1105 and, except as provided elsewhere in sections 375.1080 to 375.1105, shall comply […]
Effective – 28 Aug 1992 375.1085. Nonresidents, requirements — requirements prior to operation — premium taxes, liability for — examination by director — policy application, required provisions — prohibited acts — penalties. — 1. Risk retention groups chartered and licensed in states other than this state and seeking to do business as a risk retention […]
Effective – 28 Aug 1991 375.1087. Contributions to guaranty fund prohibited — guaranty fund to cover only specified risks. — 1. No risk retention group shall be required or permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its […]
Effective – 28 Aug 1991 375.1090. Purchasing group subject to insurance laws, exceptions. — 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 […]
Effective – 28 Aug 1992 375.1092. Purchasing group to notify director, contents — designation of director as agent for service of process, exceptions. — 1. A purchasing group which intends to do business in this state shall, prior to doing business, furnish notice to the director, on the forms prescribed by the National Association of […]
Effective – 28 Aug 1991 375.1095. Insurance purchased by purchasing group, requirements. — 1. 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 […]
Effective – 28 Aug 1991 375.1097. Premium taxes, payment of. — 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 […]
Effective – 28 Aug 1991 375.1100. Powers of director. — The director may make use of any of the powers established under chapters 374 to 385 to enforce the laws of this state not specifically preempted by the Risk Retention Act of 1986, including the director’s administrative authority to investigate, issue subpoena, conduct depositions and […]
Effective – 28 Aug 1991 375.1102. Broker required for purchase of insurance — nonresident broker acceptable — notice to insured, contents. — 1. No person, firm, association or corporation shall act or aid in any manner in soliciting, negotiating or procuring liability insurance in this state from a risk retention group unless such person, firm, […]
Effective – 28 Aug 1991 375.1105. Hazardous financial condition of group, prohibited from selling insurance, when — director may establish rules. — 1. An order issued by any district court of the United States enjoining a risk retention group from soliciting or selling insurance, or operating in any state, or in all states or in […]
