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Conduct prohibited by a Risk Retention Group
The following is prohibited conduct of a Risk Retention Group:
- solicit or sell insurance to a person who is not eligible for membership in the group.
- solicit or sell insurance if the risk retention group is in a hazardous financial condition or is financially impaired.
- have as a member or owner, whether directly or indirectly, an insurance company, unless all members of the risk retention group are insurance companies.
- issue an insurance policy with terms which provide, or could be construed to provide, coverage prohibited generally by law or declared unlawful by a final and binding decision of an appellate court that has considered the matter.