31A-15-212. Duty of producers to obtain license -- Risk retention groups --
Purchasing groups.
(1) A person may do the following only if he is licensed as an insurance agent or broker
or is exempt from licensure under Title 31A, Chapter 23a, Insurance Marketing - Licensing
Producers, Consultants, and Reinsurance Intermediaries:
(a) solicit, negotiate, or procure liability insurance in this state from a risk retention
group;
(b) solicit, negotiate, or procure liability insurance in this state for a purchasing group
from an authorized insurer or a risk retention group; and
(c) solicit, negotiate, or procure liability insurance coverage in this state for any member
of a purchasing group under a purchasing group's policy.
(2) A person may solicit, negotiate, or procure liability insurance from an insurer not
authorized to do business in this state on behalf of a purchasing group located in this state only if
he is licensed as a surplus lines producer or is exempt from licensure under Title 31A, Chapter
23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries.
(3) The requirement of residence in this state does not apply for purposes of acting as a
producer for a risk retention group or purchasing group under Subsections (1) and (2).
(4) On business placed with a risk retention group or written through a purchasing group,
each person licensed under this title shall provide to each prospective insured the notice required
by Subsection 31A-15-204(7) in the case of a risk retention group, and by Subsection
31A-15-209(1) in the case of a purchasing group.
(5) Solicitation for membership in a purchasing group is not of itself a solicitation for
insurance.
Amended by Chapter 298, 2003 General Session
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Last revised: Thursday, May 28, 2009