Sec. 38a-252. (Formerly Sec. 38-532). Requirements for risk retention groups chartered outside the state.
Sec. 38a-252. (Formerly Sec. 38-532). Requirements for risk retention groups
chartered outside the state. Risk retention groups chartered in states other than this
state and seeking to do business as a risk retention group in this state shall, prior to
offering insurance in this state submit to the Insurance Commissioner: (1) A statement
identifying the state or states in which the risk retention group is chartered and licensed
as a liability insurance company, date of chartering, its principal place of business, and
such other information, including information on its membership, as the commissioner
may require to verify that the risk retention group satisfies the definitional requirements
of subdivision (11) of section 38a-250; (2) a copy of its plan of operations or a feasibility
study and revisions of such plan or study submitted to its state of domicile, provided
the provision relating to the submission of a plan of operation or a feasibility study shall
not apply with respect to any line or classification of liability insurance which (A) was
defined in the Product Liability Risk Retention Act of 1981 before the date of the enactment of the Liability Risk Retention Act of 1986, and (B) was offered before such date
by any risk retention group which had been chartered and operating for not less than
three years before such date; and (3) a statement of registration which designates the
commissioner as its agent for the purpose of receiving service of legal documents or
process.
(P.A. 87-135, S. 3, 18; P.A. 89-33, S. 2.)
History: P.A. 89-33 made technical change in the cited Subdiv. of Sec. 38-530; Sec. 38-532 transferred to Sec. 38a-252 in 1991.