60E.07 PURCHASING GROUPS; EXEMPTION FROM CERTAIN LAWS RELATING TO THE GROUP PURCHASE OF INSURANCE.

253 words·~1 min read·/mn/chapter-60/60e-07

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 are subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers are 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 clause (2);

(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.