(1) An insurer shall not engage the services of any person, firm, association, or corporation to act as an RP on its behalf unless such person is licensed as required by section 102-903 (1).
An insurer may not employ an individual who is employed by an RP with which ittransacts business, unless such RP is under common control with the insurer and subject to the provisions of part 8 of article 3 of this title.
The insurer shall annually obtain a copy of statements of the financial condition ofeach RP with which it transacts business.
Source: L. 93: Entire article R&RE, p. 1378, § 1, effective January 1, 1995.
Editor's note: This section is similar to former § 10-2-306 as it existed prior to 1993.