Business Transacted with Producer Controlled Property/Casualty Insurer Act

SECTION 27-48-5

§ 27-48-5. Disclosure.

The producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer; except that, if the business is placed through a subproducer who is not a controlling producer, the controlling producer shall retain in his or her records a signed commitment from the subproducer that the subproducer is aware of the relationship between the insurer and the producer and that the subproducer has notified or will notify the insured.

History of Section.
(P.L. 1992, ch. 445, § 9.)