Page:United States Statutes at Large Volume 95.djvu/977

 PUBLIC LAW 97-45—SEPT. 25, 1981 (i) the commissioner has reason to believe the risk retention group is in a financially impaired condition; and (ii) the commissioner of the jurisdiction in which the group is chartered has not begun or has refused to initiate an examination of the group; and (G) comply with a lawful order issued in a delinquency proceeding commenced by the State insurance commissioner if the commissioner of thepurisdiction in which the group is chartered has failed to initiate such a proceeding after notice of a finding of financial impairment under subparagraph (F) of this paragraph; (2) require or permit a risk retention group to participate in any insurance insolvency guaranty association to wmch an insurer licensed in the State is re(][uired to belong; (3) require any insurance pohcy issued to a risk retention group or any member of the group to be countersigned by an insurance agent or broker resimng in that State; or (4) otherwise discriminate agamst a risk retention group or any of its members, except that nothing in this section shall be construed to affect the applicability of State laws generally applicable to persons or corporations. O> The exemptions specified in subsection (a) apply to— t) (1) product liability or completed operations hability insurance coverage provided by a risk retention group for— (A) such group; or (B) any person who is a member of such group; (2) the sale of product liability or completed operations liability insurance coverage for a risk retention group; and (3) the provision of insurance related services or management services for a risk retention group or any member of such group. (c) A State may require that a person acting, or offering to act, as an agent or broker for a risk retention group obtain a license from that State, except that a State may not impose any qualification or requirement which discriminates against a nonresident agent or broker.

95 STAT. 951

State license requirement.

PURCHASING GROUPS

SEC. 4. (a) Except as provided in this section, a purchasing group is State regulation, exempt from any State law, rule, regulation, or order to the extent exemptions. 15 USC 3903. that such law, rule, regulation, or order would— (1) prohibit the establishment of a purchasing group; (2) make it unlawful for an insurer to provide or offer to provide insurance on a basis providing[, to a purchasing group or its members, advantages, based on their loss and expense experience, not afforded to other persons with respect to rates, policy forms, coverages, or other matters; (3) prohibit a purchasing group or its members from purchasing insurance on the group basis described in paragraph (2) of this subsection; (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 ownerahip or afOliation, or a certain legal form;

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