(a) An insurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary broker on its behalf unless the person is licensed as required by § 23-62-404.
(b) An insurer may not employ an individual who is employed by a reinsurance intermediary broker with which it transacts business, unless the reinsurance intermediary broker is under common control with the insurer and subject to the Insurance Holding Company Regulatory Act, § 23-63-501 et seq.
(c) The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary broker with which it transacts business.
Section: Previous 23-62-402 23-62-403 23-62-404 23-62-405 23-62-406 23-62-407 23-62-408 23-62-409 23-62-410 23-62-411 23-62-412 23-62-413 NextLast modified: November 15, 2016