58-29D-27. Servicer of certain employee benefit plans--Exempt from licensure--Requirements.

A person is not required to hold a license as an administrator in this state if the person exclusively provides services to one or more bona fide employee benefit plans, each of which is established by an employer or an employee organization, or both, and for which the insurance laws of this state are preempted pursuant to the Employee Retirement Income Security Act of 1974. Any person not required to hold a license shall register with the director annually, verifying the person's status if the person directly or indirectly underwrites, collects charges or premiums from, or adjusts or settles claims of residents of this state in connection with a self-funded plan other than a governmental or church plan offering life, annuity, or health coverage.

Source: SL 1992, ch 352, § 27; SL 2020, ch 211, § 2.