20-108
|
20-108. Types of insurers excepted No provision of this title applies with respect to: 1. Hospital and medical service corporations, except as stated in chapter 4, article 3 of this title. 2. Fraternal benefit societies, except as stated in chapter 4, article 4 of this title. 3. Extended warranty insurers who comply with the bond requirements of section 20-108.01. For purposes of this paragraph "extended warranty insurer" means any insurer as otherwise defined by this title that does not manufacture, sell or service radio, television or sound reproduction equipment and that: (a) For a premium charged, not greater than twenty dollars per annum, nor greater than a three-year term, provides a nonrenewable warranty, guaranty or service contract on radio, television or sound reproduction equipment in addition to, or as an extension of, any warranty, guaranty or service provided by the manufacturer of such equipment. (b) Is not otherwise authorized to transact property or casualty insurance business in this state or any other governmental jurisdiction. (c) Is not owned or controlled in any degree nor to any extent by a person, persons or business otherwise authorized to transact property or casualty insurance business in this state or any other state or jurisdiction. (d) Has gross sales in this state not exceeding one hundred thousand dollars annually. (e) Has maximum contractual contingent liability not exceeding three hundred thousand dollars in this state. |