Supplemental provisions - Rules - Exemption

(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. Amended by Act 2015, No. 1223,§ 25, eff. 7/22/2015. Acts 1995, No. 622, § 1; 1999, No. 625, § 2; 2001, No. 8, § 1; 2011, No. 760, § 4. (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. (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. Amended by Act 2015, No. 1223,§ 25, eff. 7/22/2015. Acts 1995, No. 622, § 1; 1999, No. 625, § 2; 2001, No. 8, § 1; 2011, No. 760, § 4.