33-40-15. Purchasing group requirements.

A purchasing group which intends to do business in this state shall furnish to the Commissioner notice which shall:#

1. (1)

   Identify the state in which the group is domiciled;#

2. (2)

   Specify the lines and classifications of casualty or liability insurance which the purchasing group intends to purchase;#

3. (3)

   Identify the insurance company from which the group intends to purchase its insurance and the domicile of such company;#

4. (4)

   Identify the principal place of business of the group; and#

5. (5)

   Provide such other information as may be required by the Commissioner to verify that the purchasing group is qualified under Code Section 33-40-2.#

The purchasing group shall register with and designate the Commissioner as its agent solely for the purpose of receiving service of legal documents or process, except that such requirements shall not apply in the case of a purchasing group:#

1. (1)

   Which was domiciled before April 2, 1986, and is domiciled on and after October 27, 1986, in any state of the United States;#

2. (2)

   Which, before October 27, 1986, purchased insurance from an insurance carrier licensed in any state and since October 27, 1986, has purchased its insurance from an insurance carrier licensed in any state;#

3. (3)

   Which was a purchasing group under the requirements of the Product Liability Retention Act of 1981 before October 27, 1986; and#

4. (4)

   Which does not purchase insurance that was not authorized for purposes of an exemption under that act, as in effect before October 27, 1986.#

The notice and registration required by subsections (a) and (b) of this Code section shall be accompanied by a fee or fees as provided in Code Section 33-8-1.#