(a) This chapter applies to risk retention groups domiciled in this State operating under the provisions of chapters 141 and 142 of this title and to persons serving as managing general agents for such risk retention groups.

(b) The provisions of chapter 131, subchapter 2 of this title, pertaining to producer controlled insurers, shall apply to risk retention groups chartered in this State. (Added 1993, No. 235 (Adj. Sess.), § 9j, eff. Oct. 1, 1994; amended 2013, No. 103 (Adj. Sess.), § 4, eff. April 14, 2014.)