A purchasing group and its insurer or insurers shall be subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers shall be exempt, in regard to liability insurance for the purchasing group, from any law of this state that would:
1. Prohibit the establishment of a purchasing group;
2. Make unlawful an insurer providing advantages to a purchasing group or its members based on the loss and expense experience of the group or its members including but not limited to advantages on rates, policy forms and coverage, that is not afford to other persons or entities;
3. Prohibit a purchasing group or its members from purchasing insurance on a group basis described in paragraph 1 of this section;
4. Prohibit a purchasing group from obtaining 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;
5. Require that a purchasing group must have a minimum number of members, common ownership or affiliation, or certain legal form;
6. Require that a certain percentage of a purchasing group must obtain insurance on a group basis;
7. Otherwise discriminates against a purchasing group or any of its members; or
8. Require that any insurance policy issued to a purchasing group or any of its members be countersigned by an insurance agent or broker residing in this state.
A purchasing group shall be subject to all other applicable laws of this state.
Added by Laws 1987, c. 157, § 7, emerg. eff. June 25, 1987. Amended by Laws 2004, c. 334, § 4, emerg. eff. May 25, 2004; Laws 2021, c. 314, § 7, eff. Nov. 1, 2021.