Any production agency or administrator which advertises, sells, transacts, or administers the coverage in this state described in Section 83-1-101 and which is required to submit to an examination by the Insurance Commissioner under Section 83-1-105 shall, if said coverage is not fully insured or otherwise fully covered by an admitted life or disability insurer, nonprofit hospital service plan, or nonprofit health care plan, advise every purchaser, prospective purchaser and covered person of such lack of insurance or other coverage.
Any administrator which advertises or administers the coverage in this state described in Section 83-1-101 and which is required to submit to an examination by the Insurance Commissioner under Section 83-1-105, shall advise any production agency of the elements of the coverage, including the amount of "stop-loss" insurance in effect.