A purchasing group and its insurer or insurers shall be subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers shall be exempt, in regard to liability insurance for the purchasing group, from any law that would: I. Prohibit the establishment of a purchasing group; II. Make it unlawful for an insurer to provide or offer to provide insurance on a basis providing, to a purchasing group or its members, advantages based on their loss and expense experience not afforded to other persons with respect to rates, policy forms, coverages or other matters; III. Prohibit a purchasing group or its members from purchasing insurance on a group basis described in paragraph II of this section; IV. Prohibit a purchasing group from obtaining insurance on a group basis because the group has not been in existence for a minimum period of time or because any member has not belonged to the group for a minimum period of time; V. Require that a purchasing group must have a minimum number of members, common ownership or affiliation, or certain legal form; VI. Require that a certain percentage of a purchasing group must obtain insurance on a group basis; or VII. Otherwise discriminate against a purchasing group or any of its members.
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