N.Y. ISC Law § 5908 — New York Code / Act ISC / Article 59 / Section 5908
Notice and registration requirements of purchasing groups
Status: in_force

§ 5908. Notice and registration requirements of purchasing groups. (a)\nA purchasing group which intends to do business in this state shall,\nprior to doing such business, furnish notice of such intention to the\nsuperintendent. This notice shall include the following information:\n  (1) the state in which the group is domiciled;\n  (2) the principal place of business of the group;\n  (3) the kinds and classifications of liability insurance which the\npurchasing group intends to purchase;\n  (4) the method by which, and the person or persons if any through\nwhom, insurance will be offered to its members whose risks are resident\nor located in this state;\n  (5) the name and chartering jurisdiction of the insurer or risk\nretention group from which the purchasing group intends to purchase its\ninsurance; and\n  (6) all other states in which the group intends to do business.\n  (b) A purchasing group shall, as to any subsequent changes in any of\nthe items set forth in subsection (a) of this section, notify the\nsuperintendent within ten days of any such change.\n  (c) Each purchasing group which is required to give notice pursuant to\nsubsection (a) of this section shall also furnish such information as\nmay be required by the superintendent to:\n  (1) verify that the entity qualifies as a purchasing group; and\n  (2) determine compliance with any applicable state law.\n  (d) A purchasing group which does business in this state shall submit\nto the superintendent a statement of registration, for which a filing\nfee shall be imposed in accordance with a regulation to be promulgated\nby the superintendent, which statement of registration shall include a\ncertified power of attorney designating the superintendent as its agent\nfor the purpose of receiving service of legal documents or process.\n  (1) The power of attorney shall be accompanied by written designation\nof the name and address of the officer, agent, or other person to whom\nsuch legal documents or process shall be forwarded by the superintendent\nor his deputy on behalf of such purchasing group. In the event such\ndesignation is changed, a new certificate of designation shall be filed\nwith the superintendent within ten days of such change.\n  (2) Service of legal documents or process upon a purchasing group\npursuant to this subsection shall be made by serving the superintendent,\nany deputy superintendent or any salaried employee of the department\nwhom the superintendent designates for such purpose with two copies\nthereof and the payment of a fee of twenty dollars. The superintendent\nshall forward a copy of such legal documents or process by registered or\ncertified mail to the purchasing group at the address given in its\nwritten certificate of designation, and shall keep a record of all legal\ndocuments or process so served upon him. Service of legal documents or\nprocess so made shall be deemed made within the territorial jurisdiction\nof any court in this state.\n  (3) The registration and designation requirement of this subsection\nshall not apply in the case of a purchasing group which only purchases\ninsurance that was authorized under the Federal Product Liability Risk\nRetention Act of 1981; and\n  (A) was domiciled before April first, nineteen hundred eighty-six and\nis domiciled on or after October twenty-seventh, nineteen hundred\neighty-six in any state;\n  (B) before October twenty-seventh, nineteen hundred eighty-six,\npurchased liability insurance only from an insurer licensed in any state\nand since October twenty-seventh, nineteen hundred eighty-six purchases\nits liability insurance only from an insurer licensed in any state; and\n  (C) before October twenty-seventh, nineteen hundred eighty-six, was a\npurchasing group under the requirements of the federal Product Liability\nRisk Retention Act of 1981.\n  (e) Any purchasing group which was doing business in this state prior\nto the enactment of this article shall, within thirty days after the\neffective date of this article, furnish notice to the superintendent\npursuant to the provisions of subsection (a) of this section and furnish\nsuch information as may be required pursuant to subsections (b), (c) and\n(d) of this section.\n