31A-23a-804 - Duties of insurers utilizing the services of a reinsurance intermediary-broker.
31A-23a-804. Duties of insurers utilizing the services of a reinsuranceintermediary-broker.
(1) An insurer may not engage the services of any person, firm, association, orcorporation to act as a reinsurance intermediary-broker on its behalf unless the person is licensedas required by Subsection 31A-23a-801(1).
(2) An insurer may not employ an individual who is employed by a reinsuranceintermediary-broker with which it transacts business, unless the reinsurance intermediary-brokeris under common control with the insurer and subject to Title 31A, Chapter 16, InsuranceHolding Companies.
(3) The insurer shall annually obtain a copy of statements of the financial condition ofeach reinsurance intermediary-broker with which it transacts business.
Renumbered and Amended by Chapter 298, 2003 General Session