Section 58-17-67 - "Professional association" defined For purposes of §§ 58-17-66 to 58-17-87, inclusive, the term, professional association, means any association that meets all of the following criteria:
(1) Serves a single profession that requires a significant amount of education, training, or experience or a license or certificate from a state authority to practice the profession;(2) Has been actively in existence for five years;(3) Has a constitution and by-laws or other analogous governing documents;(4) Has been formed and maintained in good faith for purposes other than obtaining insurance;(5) Is not owned or controlled by a carrier or affiliated with a carrier;(6) Does not condition membership in the association on health status of claims experience;(7) Has at least one thousand members if it is a national association; five hundred members if it is a state association; or two hundred members if it is a local association;(8) All members and dependents of members are eligible for coverage regardless of health status or claims experience;(9) Is governed by a board of directors and sponsors annual meetings of its members; and(10) Does not allow producers to market association memberships, accept applications for memberships, or sign up members.