§ 8007. Purchasing groups — Exemption from certain laws.
244 words·~1 min read·
/de/title-18/chapter-80-risk-retention-act/8007·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A purchasing group and its insurer or insurers shall be subject to all applicable laws of this State, except that a purchasing group and its insurer or insurers shall be exempt, in regard to liability insurance for the purchasing group, from any law that would:
(1)Prohibit the establishment of a purchasing group;
(2)Make it unlawful for an insurer to provide or offer to provide insurance on a basis providing, to a purchasing group or its members, advantages based on their loss and expense experience not afforded to other persons with respect to rates, policy forms, coverages or other matters;
(3)Prohibit a purchasing group or its members from purchasing insurance on a group basis described in paragraph
(2)of this section;
(4)Prohibit a purchasing group from obtaining insurance on a group basis because the group has not been in existence for a minimum period of time or because any member has not belonged to the group for a minimum period of time;
(5)Require that a purchasing group must have a minimum number of members, common ownership or affiliation, or certain legal form;
(6)Require that a certain percentage of a purchasing group must obtain insurance on a group basis;
(7)Otherwise discriminate against a purchasing group or any of its members; or
(8)Require that any insurance policy issued to a purchasing group or any of its members be countersigned by an insurance agent or broker residing in this State.