Sec. 38a-72-9 - Supplemental provisions; Exemption

ยง 38a-72-9. Supplemental provisions; Exemption

(a) The provisions of sections 38a-72-1 to 38a-72-13, inclusive, are supplemental to any other provisions of the laws and regulations of this state, and shall not preclude or limit any other powers or duties of the commissioner under such laws or regulations, including, but not limited to, Chapter 704c of the General Statutes and sections 38a-8-101 to 38a-8-104, inclusive.

(b) The commissioner may exempt from the application of sections 38a-72-1 to 38a-72-13, inclusive, any domestic property and casualty insurer which:

(1) writes direct business only in this state;

(2) writes direct annual premiums of two million dollars ($2,000,000) or less; and

(3) assumes no reinsurance in excess of five percent (5%) of direct premium written.

(Effective September 28, 1994)

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