Current with legislation from 2024 Fiscal and Special Sessions.
Section 23-63-1310 - 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.