Insurance Law 5907 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 5906 Security funds and compulsory associations up ARTICLE 59 Risk Retention Groups and Purchasing Groups next SECTION 5908 Notice and registration requirements of purchasing groups Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 5907 Purchasing groups; exemption from certain laws Insurance (ISC) CHAPTER 28, ARTICLE 59 § 5907. Purchasing groups; exemption from certain laws. A purchasing group and its insurer shall be subject to all applicable laws of this state, except that a purchasing group and its insurer shall be exempt, in regard to liability insurance for the purchasing group and any of its members, from any law that would: (a) prohibit the establishment of a purchasing group; (b) make it unlawful for an insurer to provide or offer to provide liability 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; (c) prohibit a purchasing group or its members from purchasing liability insurance on a group basis described in subsection (b) of this section; (d) prohibit a purchasing group from obtaining liability 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; (e) require that a purchasing group must have a minimum number of members, common ownership or affiliation, or a certain legal form; (f) require that a certain percentage of a purchasing group must obtain liability insurance on a group basis; or (g) otherwise discriminate against a purchasing group or any of its members.