(a) The Commissioner shall require each administrator to have and maintain a fidelity bond in an amount which the Commissioner deems appropriate but which is not less than $100,000.00.
(b) Errors and omissions coverage or other appropriate liability insurance in an amount which is not less than that specified by the rules and regulations of the Commissioner shall be maintained at all times by an administrator of a fund; and a certificate by the insurer or other appropriate evidence of such coverage shall be filed with the Commissioner by the fund.
(c) Each administrator shall maintain an office in this state for the payment, processing, and adjustment of the claims of the fund or funds which it represents.
Section: Previous 20-2-2004 20-2-2005 20-2-2006 20-2-2007 20-2-2008 20-2-2009 20-2-2010 20-2-2011 20-2-2012 20-2-2013 20-2-2014 20-2-2015 20-2-2016 20-2-2017 20-2-2018 NextLast modified: October 14, 2016