(1) (a) An insurer may not assume any obligation to any person other than a policyholder or other company under common control, to use or adhere to certain rates or rating procedures. (b) Except for a policyholder or other company under common control, a person may not impose any penalty or other adverse consequence for failure of an insurer to adhere to certain rates or rating procedures. (2) This section does not apply to rates used: (a) by a joint underwriting group; (b) by a pool; (c) under quota share reinsurance treaties; or (d) by a residual market mechanism. Renumbered and Amended by Chapter 130, 1999 General Session
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