33-2-1704. Duties of insurers utilizing the services of a reinsurance intermediary-broker.
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/mt/title-33/chapter-2/part-17/33-2-1704·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
33-2-1704 . Duties of insurers utilizing the services of a reinsurance intermediary-broker.
(1)An insurer may not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-broker on its behalf unless the person is licensed as required by 33-2-1701 .
(2)An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business unless the reinsurance intermediary-broker is under common control with the insurer and is subject to the provisions of Title 33, chapter 2, part 11.
(3)The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.