Section 26.1-25-10.5 - Joint underwriting, joint reinsurance pool, and residual market activities1. Notwithstanding subdivision a of subsection 2 of section 26.1-25-10.2, insurers participating in joint underwriting, joint reinsurance pools, or residual market mechanisms may in connection with such activity act in cooperation with each other in the making of rates, rating systems, policy forms, underwriting rules, surveys, inspections and investigations, the furnishing of loss and expense statistics or other information, or carrying on research. Joint underwriting, joint reinsurance pools, and residual market mechanisms may not be deemed an advisory organization.2. Regulation. a. Except to the extent modified by this section, insurers, joint underwriting, joint reinsurance pool, and residual market mechanism activities are subject to the other provisions of this chapter.b. If, after hearing, the commissioner finds that any activity or practice of an insurer participating in joint underwriting or a pool is unfair, is unreasonable, will tend to lessen competition in any market, or is otherwise inconsistent with the provisions or purposes of this chapter, the commissioner may issue a written order and require the discontinuance of such activity or practice.c. Every pool shall file with the commissioner a copy of its constitution; its articles of incorporation, agreement, or association; its bylaws, rules, and regulations governing its activities; its members; the name and address of a resident of this state upon whom notices or orders of the commissioner or process may be served; and any changes in amendments or changes in the foregoing.d. Any residual market mechanism, plan, or agreement to implement such a mechanism, and any changes or amendments thereto, must be submitted in writing to the commissioner for consideration and approval, together with such information as may be reasonably required. The commissioner may approve only such agreements as are found to contemplate: (1) The use of rates that meet the standards prescribed by this chapter; and(2) Activities and practices that are not unfair, unreasonable, or otherwise inconsistent with the provisions of this chapter.At any time after such agreements are in effect, the commissioner may review the practices and activities of the adherents to such agreements and if, after a hearing, the commissioner finds that any such practice or activity is unfair or unreasonable, or is otherwise inconsistent with the provisions of this chapter, the commissioner may issue a written order to the parties and either require the discontinuance of such acts or revoke approval of any such agreement.