58-6A-3. Information submitted to director.
247 words·~1 min read·
/sd/title-58/chapter-58-6/58-6a-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Before offering insurance in this state, a risk retention group not chartered in this state shall submit to the director:
(1)A statement identifying the states in which the risk retention group is chartered and licensed as a liability insurance company, date of chartering, its principal place of business, and other information, including information on its membership, as the director of this state may require to verify that the risk retention group is qualified under this chapter;
(2)A copy of the group's plan of operations or a feasibility study and revisions of the plan or study submitted to its state of domicile. However, the provision relating to the submission of a plan of operation or a feasibility study does not apply with respect to any line or classification of liability insurance which was defined in the Product Liability Risk Retention Act of 1981, before October 27, 1986, and was offered before such date by any risk retention group which had been chartered and operating for not less than three years before such date;
(3)A statement of registration which designates the director as the group's agent for the purpose of receiving service of legal documents or process; and
(4)A copy of any material revision to the group's plan of operation or feasibility study within thirty days of the date of the approval of the revision by the director of the group's chartering state, or if no such approval is required, within thirty days of filing.