§431K-7  Notice and registration
requirements of purchasing groups.  (a)  A purchasing group that intends to
do business in this State shall furnish, on forms prescribed by the National
Association of Insurance Commissioners, notice to the commissioner that shall
include the following:



(1)  Identification of the state in which the group is
domiciled;



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



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



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



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



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



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



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



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



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



(2)  Before October 27, 1986, purchased insurance from
an 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 of
the 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 not
authorized for purposes of an exemption under that Act, as in effect before
October 27, 1986.



(d)  Within ten days a purchasing group shall
notify the commissioner of any changes in any of the items set forth in
subsections (a) and (b). [L 1987, c 180, pt of §1; am L 1989, c 272, §6; am L
1993, c 321, §17; am L 1997, c 368, §9]