Chapter 46 - Reinsurance Intermediary Act

Chapter 46 - Reinsurance Intermediary Act

Section 38-46-10. Short title.
Section 38-46-20. Definitions.
Section 38-46-30. Licensing requirement for intermediary-broker and intermediary-manager; bond; requisites for licensing; fee; refusal of license; designation of person to receive process; attorneys exempt.
Section 38-46-40. Written contract required between intermediary-broker and insurer it represents; minimum terms contract must provide.
Section 38-46-50. Records of contracts of reinsurance to be maintained for at least ten years; access by insurer.
Section 38-46-60. Party engaged as intermediary-broker to be licensed; regulation of contacts between insurer and intermediary-broker with which it transacts business; annual filing of financial statements.
Section 38-46-70. Transactions between reinsurance intermediary-manager and reinsurer it represents regulated; written contract required; approval by reinsurer's directors and by director; terms contract must include.
Section 38-46-80. Acts prohibited of reinsurance intermediary-manager.
Section 38-46-90. Party engaged to act as intermediary-manager to be licensed; annual filing of financial statements; loss reserves; authority for retrocessional contracts or participation in reinsurance syndicates; notice of termination of contract with intermediary-manager; persons in certain positions not to serve on reinsurer's board.
Section 38-46-100. Reinsurance intermediary subject to examination; access to books, accounts and records.
Section 38-46-110. Violations; hearings; penalties; judicial review; rights of policy holders, claimants, creditors, and other third parties not affected.
Section 38-46-120. Department to promulgate regulations.

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