11 CRR-NY 301.8NY-CRR
11 CRR-NY 301.8
11 CRR-NY 301.8
301.8 Notice and registration requirements—prior to December 10, 1988.
The LRRA requires that a purchasing group which intends to do business in any state furnish notice of such intention to the insurance commissioner of such state.
(1) Such notice, to be submitted to the superintendent, as required by the LRRA, shall include the following information:
(i) the state in which the purchasing group is domiciled;
(ii) the lines and classifications of liability insurance which the purchasing group intends to purchase;
(iii) the insurer or risk retention group from which the purchasing group intends to purchase insurance and the domicile of such insurer or risk retention group; and
(iv) the principal place of business of the purchasing group.
(2) A purchasing group shall, as required by the LRRA, notify the superintendent of any subsequent changes in any of the items provided in the notice described by subdivision (a) of this section within 30 days of the occurrence of the change.
The LRRA requires that a purchasing group register with and designate the commissioner of each state in which it does business as its agent solely for the purpose of receiving service of legal documents or process. In order to register, a purchasing group shall submit to the superintendent a power of attorney and a certificate of designation. The power of attorney shall:
(1) be executed and certified;
(2) appoint the superintendent and any successors in office, and any authorized deputy, as the purchasing group's true and lawful attorney in and for the State of New York, for the purpose of receiving all legal documents or process in any proceeding against the purchasing group that may be served;
(3) be of indefinite duration;
(4) bind any person or corporation which, as successor, acquires the purchasing group's assets and assumes its liabilities by merger, consolidation or otherwise;
(5) not be terminated by the purchasing group or such successor so long as any contracts, or liabilities or duties arising out of such contracts, entered into by the purchasing group while doing business in this State, are in effect; and
(6) be accompanied by a certified copy of a resolution by the purchasing group's governing body or empowered person authorizing the requisite power of attorney.
(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) Service of legal documents or process upon a purchasing group may be made at the offices of the department during normal and ordinary business hours, pursuant to the power of attorney executed by the purchasing group, by serving the superintendent, any deputy superintendent, or any salaried employee of the Department of Financial Services whom the superintendent designates for such purposes, with two copies thereof and a fee of $20.
(e) Whenever service of legal documents or process is made in accordance with this section:
(1) a copy of such documents or process shall be forwarded by the superintendent by mail, directed to the person last designated by such purchasing group, as shown by department records;
(2) the superintendent will keep a record noting the date of service of each legal document or process served under this section; and
(3) upon request made within 10 years of such service, the superintendent will issue a certificate under his seal certifying receipt of the legal documents or process, date of service, and receipt of the fee.
(f) A registration fee of $100 shall accompany the registration provided for in subdivision (b) of this section.
(g) The registration and designation provisions of subdivisions (b) and (c) of this section do not apply to any purchasing group exempted from registration by the LRRA.
11 CRR-NY 301.8
Current through November 30, 2020
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