58-29D-27. License not required for administrator exclusively servicing certain employee benefit plans. A person is not required to hold a license as an administrator in this state if the person exclusively provides services to one or more bona fide employee benefit plans each of which is established by an employer or an employee organization, or both, and for which the insurance laws of this state are preempted pursuant to the Employee Retirement Income Security Act of 1974. Such persons shall register with the director annually, verifying their status as herein described.
Source: SL 1992, ch 352, § 27.
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