(a) This subchapter is supplemental to other laws of this state and does not preclude or limit other powers or duties of the Insurance Commissioner under those laws, including without limitation § 23-68-101 et seq.
(b) The commissioner may adopt reasonable rules necessary for the implementation of this subchapter.
(c) The commissioner may exempt a domestic insurer licensed to do business in this state from this subchapter if the domestic insurer:
(1) Writes direct business only in this state;
(2) Writes direct annual premiums of two million dollars ($2,000,000) or less; and
(3) Assumes no reinsurance more than five percent (5%) of direct premium written.
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