31A-23a-701. Applicability. (1) This part applies to licensed insurers, as defined in Section 31A-23a-102, that are domiciled: (a) in this state; or (b) in a state that does not have a substantially similar law. (2) All provisions of Chapter 16, Insurance Holding Companies, to the extent they are not superseded by this part, continue to […]
31A-23a-702. Minimum standards. (1) This section applies if, in any calendar year, the aggregate amount of gross written premium on business placed with a controlled insurer by a controlling producer is equal to or greater than 5% of the admitted assets of the controlled insurer, as reported in the controlled insurer’s quarterly statement filed as […]
31A-23a-703. Disclosure. The producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer. However, if the business is placed through a producer who is not a controlling producer, the controlling producer shall retain in his records a signed […]
31A-23a-704. Penalties. (1) (a) If, after notice and opportunity to be heard, the commissioner finds that the controlling producer or any other person has not materially complied with this part, or any rule made or order issued under the part, the commissioner may order the controlling producer to cease placing business with the controlled insurer. […]
