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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 375

previous next Effective - 01 Jul 1992, see footnotebottom

  375.1122.  Insurer's use of broker, restrictions — financial condition statement required. — 1.  An insurer shall not engage the services of any person, firm, association or corporation to act as an RB on its behalf, unless such person is licensed as required by subsection 1 of section 375.1115.

  2.  An insurer may not employ an individual who is employed by an RB with which it transacts business, unless such RB is under common control with the insurer and subject to the provisions of chapter 382.

  3.  The insurer shall annually obtain a copy of statements of the financial condition of each RB with which it transacts business.

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(L. 1991 H.B. 385, et al. § 42)

Effective 7-01-92


---- end of effective   01 Jul 1992 ----

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