§431K-7  Notice and registrationrequirements of purchasing groups.  (a)  A purchasing group that intends todo business in this State shall furnish, on forms prescribed by the NationalAssociation of Insurance Commissioners, notice to the commissioner that shallinclude the following:

(1)  Identification of the state in which the group isdomiciled;

(2)  Specification of the lines and classifications ofliability insurance that the purchasing group intends to purchase;

(3)  Identification of the insurance company or riskretention group from which the group intends to purchase its insurance and thedomicile of the company or risk retention group; and

(4)  Identification of the principal place of businessof the group.

(b)  The commissioner may require a purchasinggroup to provide the following information:

(1)  The method by which, and the person or personsthrough whom, insurance will be offered to its members whose risks are residentor located in this State;

(2)  Identify all other states in which the groupintends to do business; and

(3)  Provision of other information to verify that thepurchasing group qualifies as such under section 431K-1.

(c)  The purchasing group shall register withand designate the commissioner or other appropriate authority as its agentsolely for the purpose of receiving service of legal documents or process,except that these requirements shall not apply in the case of a purchasinggroup that:

(1)  Was domiciled before April 1, 1986, and isdomiciled on and after October 27, 1986, in any state of the United States;

(2)  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 licensed in any state;

(3)  Was a purchasing group under the requirements ofthe Product Liability Risk Retention Act of 1981, 15 U.S.C. §3901 et seq.,before October 27, 1986; and

(4)  Does not purchase insurance that was notauthorized for purposes of an exemption under that Act, as in effect beforeOctober 27, 1986.

(d)  Within ten days a purchasing group shallnotify the commissioner of any changes in any of the items set forth insubsections (a) and (b). [L 1987, c 180, pt of §1; am L 1989, c 272, §6; am L1993, c 321, §17; am L 1997, c 368, §9]