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48.92.070  <<  48.92.080 >>   48.92.090

RCW 48.92.080

Purchasing groups — Notice and registration.

(1) A purchasing group which intends to do business in this state shall furnish, before doing business, notice to the commissioner, on forms prescribed by the National Association of Insurance Commissioners which shall:

     (a) Identify the state in which the group is domiciled;

     (b) Identify all other states in which the group intends to do business;

     (c) Specify the lines and classifications of liability insurance which the purchasing group intends to purchase;

     (d) Identify the insurance company or companies from which the group intends to purchase its insurance and the domicile of that company or companies;

     (e) Specify the method by which, and the person or persons, if any, through whom insurance will be offered to its members whose risks are resident or located in this state;

     (f) Identify the principal place of business of the group; and

     (g) Provide any other information as may be required by the commissioner to verify that the purchasing group is qualified under RCW 48.92.020(10).

     (2) A purchasing group shall, within ten days, notify the commissioner of any changes in any of the items set forth in subsection (1) of this section.

     (3) The purchasing group shall register with and designate the commissioner as its agent solely for the purpose of receiving service of legal documents or process, except that this requirement shall not apply in the case of a purchasing group that only purchases insurance that was authorized under the federal Product Liability Risk Retention Act of 1981 and:

     (a) Which in any state of the United States:

     (i) Was domiciled before April 1, 1986; and

     (ii) Is domiciled on and after October 27, 1986;

     (b) Which:

     (i) Before October 27, 1986, purchased insurance from an insurance carrier licensed in any state;

     (ii) Since October 27, 1986, purchased its insurance from an insurance carrier licensed in any state; or

     (c) Which was a purchasing group under the requirements of the federal Product Liability Risk Retention Act of 1981 before October 27, 1986.

     (4) A purchasing group that is required to give notice under subsection (1) of this section shall also furnish such information as may be required by the commissioner to:

     (a) Verify that the entity qualifies as a purchasing group;

     (b) Determine where the purchasing group is located; and

     (c) Determine appropriate tax treatment.

[1993 c 462 § 97; 1987 c 306 § 8.]

Notes:

     Severability -- Implementation -- 1993 c 462: See RCW 48.31B.901 and 48.31B.902.