Sec. 10. As used in this chapter, "purchasing group" means any group that:
(1) has as one of its purposes the purchase of liability insurance on a group basis;
(2) purchases liability insurance:
(A) only for its group members; and
(B) only to cover the liability with respect to which the businesses or activities of the group members are similar or related;
(3) is composed of members whose businesses or activities are similar or related with respect to the liability to which the members are exposed by virtue of any related, similar, or common business, trade, product, services, premises, or operations; and
(4) is domiciled in any state.
As added by P.L.162-1988, SEC.2.
Structure Indiana Code
Article 7. Special Types of Insurance
Chapter 10. Risk Retention Groups
27-7-10-1. "Commissioner" Defined
27-7-10-2. "Completed Operations Liability" Defined
27-7-10-4. "Hazardous Financial Condition" Defined
27-7-10-5. "Insurance" Defined
27-7-10-6. "Liability" Defined
27-7-10-7. "Personal Risk Liability" Defined
27-7-10-8. "Plan of Operation or Feasibility Study" Defined
27-7-10-9. "Product Liability" Defined
27-7-10-10. "Purchasing Group" Defined
27-7-10-11. "Risk Retention Group" Defined
27-7-10-15. Premium Taxes and Taxes on Premiums; Liability; Report of Premiums; Policy Records
27-7-10-16. Foreign Risk Retention Groups; Compliance With Business Practice Provisions
27-7-10-17. Examination of Foreign Risk Retention Groups
27-7-10-18. Notice; Applications and Policies
27-7-10-20. Insurance Company Membership in Risk Retention Group
27-7-10-21. Prohibited Coverage
27-7-10-23. Insurance Insolvency Guaranty Fund
27-7-10-24. Countersignature on Policies
27-7-10-25. Purchasing Groups and Their Insurers; Application of Indiana Law; Exemptions
27-7-10-28. Premium Taxes; Taxes on Premiums; Calculations
27-7-10-29. Enforcement; Scope of Authority
27-7-10-30. Solicitation, Negotiation, or Procurement of Liability Insurance; License Requirements
27-7-10-32. Insurance Producers for Risk Retention Groups; Residence; Notice