New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter XII - Group Property/casualty Insurance
Part 301 - Purchasing Groups
Section 301.9 - Notice and registration requirements on and after december 10, 1988
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Section 5908 of the Insurance Law requires that a purchasing group which intends to do business in this State shall, prior to doing such business, furnish notice of such intention to the superintendent, and requires a purchasing group which does business in this State to submit to the superintendent a statement of registration. For the purpose of section 5908, doing business in this State shall have the meaning contained in section 301.1(b) of this Part.
(b) A purchasing group shall file the statement of registration, consisting of a power of attorney and certificate of designation, which shall be submitted in the form prescribed by the superintendent. The power of attorney shall:
(c) The written certificate of designation shall be executed and certified and shall state the name and address of the authorized officer, agent or other person to whom legal documents or process shall be forwarded by the superintendent or deputy. In the event of any change in such designation, a new certificate shall be filed with the superintendent within 10 days of such change.
(d) A registration fee of $100 shall accompany the statement of registration. Such registration shall not be considered complete, and a purchasing group shall not do business in this State, unless the required fee is duly paid. The superintendent will not act as agent for the receipt of any legal documents or process unless the purchasing group has filed its statement of registration in accordance with section5908 of the Insurance Law and this section.
(e) Any purchasing group doing business in this State prior to December 10, 1988 which has not already filed its registration documents in the form prescribed by the superintendent, including all of the provisions required by this Part, shall file a statement of registration which complies with this Part on or before January 10, 1989.
(f) The registration requirements of this section shall not apply to any purchasing group exempted from such requirements by section 5908 (d)(3) of the Insurance Law.