A. 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 the Reinsurance Intermediary Act.
B. An insurer shall not employ an individual who is employed by an RB with which the insurer transacts business, unless such RB is under common control with the insurer and subject to Article 16A of the Insurance Code.
C. The insurer annually shall obtain a copy of statements of the financial condition of each RB with which the insurer transacts business.
Added by Laws 1992, c. 178, § 27, eff. Sept. 1, 1992.
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