375.1092. Purchasing group to notify director, contents--designation of director as agent for service of process, exceptions.
Purchasing group to notify director, contents--designation ofdirector as agent for service of process, exceptions.
375.1092. 1. A purchasing group which intends to dobusiness in this state shall, prior to doing business, furnishnotice to the director, on the forms prescribed by the NationalAssociation of Insurance Commissioners for such purpose, whichshall:
(1) Identify the state in which the group is domiciled;
(2) Identify all other states in which the group intends todo business;
(3) Specify the lines and classifications of liabilityinsurance which the purchasing group intends to purchase;
(4) Identify the insurance company or companies from whichthe group intends to purchase its insurance and the domicile ofsuch company;
(5) Specify the method by which, and the person or persons,if any, through whom insurance will be offered to its memberswhose risks are resident or located in this state;
(6) Identify the principal place of business of the group;and
(7) Provide such other information as may be required bythe director to verify that the purchasing group is qualifiedunder subdivision (10) of section 375.1080.
2. A purchasing group shall, within ten days, notify thedirector of any changes in any of the items set forth insubsection 1 of this section.
3. The purchasing group shall register with and designatethe director as its agent solely for the purpose of receivingservice of legal documents or process, except that suchrequirements shall not apply in the case of a purchasing groupwhich only purchases insurance that was authorized under thefederal Products Liability Risk Retention Act of 1981; and
(1) Which in any state of the United States was domiciledbefore April 1, 1986, and is domiciled on and after October 27,1986;
(2) Which before October 27, 1986, purchased insurance froman insurance carrier licensed in any state, and since October 27,1986, purchased its insurance from an insurance carrier licensedin any state; or
(3) Which was a purchasing group under the requirements ofthe Product Liability Risk Retention Act of 1981 before October27, 1986.
4. Each purchasing group that is required to give noticepursuant to subsection 1 of this section shall also furnish suchinformation as may be required by the director to:
(1) Verify that the entity qualifies as a purchasing group;
(2) Determine where the purchasing group is located; and
(3) Determine appropriate tax treatment.
5. Any purchasing group which was doing business in thisstate prior to August 28, 1991, shall, within thirty days afterAugust 28, 1991, furnish notice to the director pursuant to theprovisions of subsection 1 of this section and furnish suchinformation as may be required pursuant to subsections 2 and 3 ofthis section.
(L. 1991 H.B. 385, et al. § 30, A.L. 1992 H.B. 1574)