20-2411. Duty of insurance producer to obtain
license
A. No person, firm, association or corporation may act or aid in any manner in
soliciting, negotiating or procuring liability insurance in this state from a risk
retention group unless the person, firm, association or corporation is licensed as an
insurance producer in accordance with this title.
B. No person, firm, association or corporation may act or aid in any manner in
soliciting, negotiating or procuring liability insurance in this state for a purchasing
group or any of its members from an authorized insurer or a risk retention group
chartered in a state unless the person, firm, association or corporation is licensed as
an insurance producer in accordance with this title.
C. No person, firm, association or corporation may act or aid in any manner in
soliciting, negotiating or procuring liability insurance from an insurer that is not
authorized to do business in this state on behalf of a purchasing group which is located
in this state unless the person, firm, association or corporation is licensed as a
surplus lines broker or excess line broker in accordance with this title.
D. For purposes of acting as an insurance producer or surplus lines broker for a
risk retention group or purchasing group pursuant to subsections A, B and C of this
section, the requirement of residence in this state does not apply.
E. Every person, firm, association or corporation that is licensed pursuant to this
title, on business placed with risk retention groups or written through a purchasing
group, shall inform each prospective insured of the provisions of the notice required by
section 20-2403, subsection G in the case of a risk retention group and section 20-2408,
subsection C in the case of a purchasing group.
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