Legislation
SECTION 6701
Purpose; construction
Insurance (ISC) CHAPTER 28, ARTICLE 67
§ 6701. Purpose; construction. (a) The purpose of this article is to
provide for the organization and licensing of a nonprofit
property/casualty insurance company that insures nonprofit organizations
and that will qualify, and continue to qualify, as a "qualified
charitable risk pool" as defined in subsection (n) of section 501 of the
Internal Revenue Code.
(b) This article shall be liberally construed to effect the purpose
under subsection (a) of this section which shall constitute an aid and
guide to interpretation.
provide for the organization and licensing of a nonprofit
property/casualty insurance company that insures nonprofit organizations
and that will qualify, and continue to qualify, as a "qualified
charitable risk pool" as defined in subsection (n) of section 501 of the
Internal Revenue Code.
(b) This article shall be liberally construed to effect the purpose
under subsection (a) of this section which shall constitute an aid and
guide to interpretation.