27-2A-4
Section 27-2A-4 Nonrenewals, cancellations, or revisions of ceded reinsurance agreements.
(a) Materiality and scope. (1) No nonrenewals, cancellations, or revisions of ceded reinsurance
agreements need be reported pursuant to Section 27-2A-2 if the nonrenewals, cancellations,
or revisions are not material. For purposes of this section, a material nonrenewal,
cancellation, or revision is one that affects: a. As respects property and casualty business,
including accident and health business written by a property and casualty insurer: 1. More
than 50 percent of the insurer's total ceded written premium. 2. More than 50 percent of the
insurer's total ceded indemnity and loss adjustment reserves. b. As respects life, annuity,
and accident and health business: More than 50 percent of the total reserve credit taken for
business ceded, on an annualized basis, as indicated in the insurer's most recent annual statement.
c. As respects either property and casualty or life, annuity, and accident...
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27-5A-7
Section 27-5A-7 Required contract provisions; reinsurance intermediary-managers. Transactions
between a reinsurance intermediary-manager and the reinsurer it represents in that capacity
shall only be entered into pursuant to a written contract, specifying the responsibilities
of each party, which shall be approved by the reinsurer's board of directors. At least 30
days before a reinsurer assumes or cedes business through a producer, a true copy of the approved
contract shall be filed with the commissioner for approval. The contract shall, at a minimum,
provide that: (1) The reinsurer may terminate the contract for cause upon written notice to
the reinsurance intermediary-manager. The reinsurer may immediately suspend the authority
of the reinsurance intermediary-manager to assume or cede business during the pendency of
any dispute regarding the cause for termination. (2) The reinsurance intermediary-manager
shall render accounts to the reinsurer accurately detailing all material...
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27-2A-3
Section 27-2A-3 Materiality; scope; information to be reported. (a) Materiality. No
acquisitions or dispositions of assets need be reported, pursuant to Section 27-2A-2,
if the acquisitions or dispositions are not material. For purposes of this section,
a material acquisition (or the aggregate of any series of related acquisitions during any
30-day period) or disposition (or the aggregate of any series of related dispositions during
any 30-day period) is one that is nonrecurring and not in the ordinary course of business
and involves more than five percent of the reporting insurer's total admitted assets as reported
in its most recent statutory statement filed with the insurance department of the insurer's
state of domicile. (b) Scope. (1) Asset acquisitions subject to this chapter include every
purchase, lease, exchange, merger, consolidation, succession, or other acquisition, other
than the construction or development of real property, by or for the reporting insurer or
the...
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27-5B-7
Section 27-5B-7 Reinsurer maintaining a trust fund. (a) Credit shall be allowed when
the reinsurance is ceded to an assuming insurer that maintains a trust fund in a qualified
U.S. financial institution, as defined in subsection (b) of Section 27-5B-15, for the
payment of the valid claims of its U.S. ceding insurers, their assigns and successors in interest.
To enable the commissioner to determine the sufficiency of the trust fund, the assuming insurer
shall report annually to the commissioner information substantially the same as that required
to be reported on the NAIC Annual Statement form by licensed insurers. The assuming insurer
shall submit to examination of its books and records by the commissioner and bear the expense
of examination. (b)(1) Credit for reinsurance shall not be granted under this section
unless the form of the trust and any amendments to the trust have been approved by either:
a. The commissioner of the state where the trust is domiciled. b. The commissioner of...
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28-9-6
Section 28-9-6 Amendment, cancellation, etc., of agreements; proof of good faith; notice;
good cause. (a) Notwithstanding any agreement and except as otherwise provided for in this
chapter, a supplier shall not: amend or modify an agreement; cause a wholesaler to resign
from an agreement; or cancel, terminate, fail to renew, or refuse to continue under an agreement,
unless the supplier has complied with all of the following: (1) Has satisfied the applicable
notice requirements of subsection (c) of this section. (2) Has acted in good faith.
(3) Has good cause for the amendment, modification, cancellation, termination, nonrenewal,
discontinuance, or forced resignation. (b) For each amendment, modification, termination,
cancellation, nonrenewal, or discontinuance, the supplier shall have the burden of proving
that it has acted in good faith, that the notice requirements under this section have
been complied with, and that there was good cause for the amendment, modification, termination,...

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45-2-22.06
Section 45-2-22.06 Conditions of amendment, modification, termination, etc., of agreement.
(a) Notwithstanding any agreement and except as otherwise provided for in this part, a supplier
shall not: Amend or modify an agreement; cause a wholesaler to resign from an agreement; or
cancel, terminate, fail to renew, or refuse to continue under an agreement, unless the supplier
has complied with all of the following: (1) Has satisfied the applicable notice requirements
of subsection (c). (2) Has acted in good faith. (3) Has good cause for the amendment, modification,
cancellation, termination, nonrenewal, discontinuance, or forced resignation. (b) For each
amendment, modification, termination, cancellation, nonrenewal, or discontinuance, the supplier
shall have the burden of proving that it has acted in good faith, that the notice requirements
under this section have been complied with, and that there was good cause for the amendment,
modification, termination, cancellation, nonrenewal, or...
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45-37-21.07
Section 45-37-21.07 Amendment, modification, termination, etc., of agreement. (a) Notwithstanding
any agreement and except as otherwise provided for in this part, a supplier shall not amend
or modify an agreement; cause a wholesaler to resign from an agreement; or cancel, terminate,
fail to renew, or refuse to continue under an agreement, unless, in any of the foregoing cases,
the supplier has complied with all of the following: (1) Has satisfied the applicable notice
requirements of subsection (c). (2) Has acted in good faith. (3) Has good cause for the amendment,
modification, cancellation, termination, nonrenewal, discontinuance, or forced resignation.
(b) For each amendment, modification, termination, cancellation, nonrenewal, or discontinuance,
the supplier shall have the burden of proving that it has acted in good faith, that the notice
requirements under this section have been complied with, and that there was good cause
for the amendment, modification, termination,...
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45-49-23.05
Section 45-49-23.05 Conditions of amendment, modification, termination, etc., of agreement.
(a) Notwithstanding any agreement and except as otherwise provided for in this part, a supplier
shall not: amend or modify an agreement; cause a wholesaler to resign from an agreement; or
cancel, terminate, fail to renew, or refuse to continue under an agreement, unless the supplier
has complied with all of the following: (1) Has satisfied the applicable notice requirements
of subsection (c). (2) Has acted in good faith. (3) Has good cause for the amendment, modification,
cancellation, termination, nonrenewal, discontinuance, or forced resignation. (b) For each
amendment, modification, termination, cancellation, nonrenewal, or discontinuance, the supplier
shall have the burden of proving that it has acted in good faith, that the notice requirements
under this section have been complied with, and that there was good cause for the amendment,
modification, termination, cancellation, nonrenewal, or...
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27-6B-4
Section 27-6B-4 Contract requirements. (a) Unless there is a written contract between
the controlling producer and the insurer approved by the board of directors of the insurer
and specifying the responsibilities of each party, a controlled insurer shall not accept business
from a controlling producer and a controlling producer shall not place business with a controlled
insurer. The contract between a controlling producer and a controlled insurer shall, as a
minimum, contain all of the following: (1) A provision that, upon written notice to the controlling
producer, the controlled insurer may terminate the contract for cause. The controlled insurer
shall suspend the authority of the controlling producer to write business during any pending
dispute regarding the cause for the termination. (2) A provision requiring the controlling
producer to give a detailed accounting to the controlled insurer on any material transaction,
including information necessary to support all commissions,...
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27-6A-4
Section 27-6A-4 Contract requirements. No person, firm, association, or corporation
acting in the capacity of a managing general agent shall place business with an insurer unless
there is in force a written contract between the parties that sets forth the responsibilities
of each party and where both parties share responsibility for a particular function, specifies
the division of such responsibilities, and that contains the following minimum provisions:
(a) The insurer may terminate the contract for cause upon written notice to the managing general
agent. The insurer may suspend the underwriting authority of the managing general agent during
the pendency of any dispute regarding the cause for termination. (b) The managing general
agent shall render accounts to the insurer detailing all transactions and remit all funds
due under the contract to the insurer on not less than a monthly basis. (c) All funds collected
for the account of an insurer will be held by the managing general agent...
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