33-11-108. Notice and registration requirements of purchasing groups. (1) A purchasing group that intends to do business in this state shall furnish notice to the commissioner that:
(a) identifies the state where the group is domiciled and all other states in which the group intends to do business;
(b) specifies the lines and classifications of liability insurance that the purchasing group intends to purchase;
(c) identifies the insurer from which the purchasing group intends to purchase its insurance and the domicile of that insurer;
(d) identifies the Montana-licensed insurance producer or Montana-licensed surplus lines insurance producer through which the purchasing group intends to place its business;
(e) identifies the principal place of business of the purchasing group;
(f) provides information required by the commissioner to verify that the purchasing group is qualified under 33-11-102(7); and
(g) identifies the person or persons controlling the activities of the group and includes biographical information on the person or persons.
(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. However, the requirements do not apply in the case of a purchasing group:
(a) (i) that was domiciled before April 2, 1986, in any state of the United States; and
(ii) that was domiciled on and after October 27, 1986, in any state of the United States;
(b) (i) that, before October 27, 1986, purchased insurance from an insurer licensed in any state; and
(ii) that, since October 27, 1986, purchased its insurance from an insurer licensed in any state;
(c) that was a purchasing group under the requirements of the federal Product Liability Risk Retention Act of 1981 (15 U.S.C. 3901 through 3904) before it was amended by Public Law 99-563, approved on October 27, 1986; and
(d) that does not purchase insurance that was not authorized for purposes of an exemption under the federal Product Liability Risk Retention Act of 1981, as in effect before October 27, 1986.
(3) Upon completion of registration requirements, the commissioner shall issue a proper certificate of registration to the purchasing group.
History: En. Sec. 8, Ch. 249, L. 1987; amd. Sec. 3, Ch. 180, L. 1991; amd. Sec. 15, Ch. 451, L. 1993; amd. Sec. 66, Ch. 596, L. 1993; amd. Sec. 43, Ch. 379, L. 1995.