(a) A legal service insurance corporation will pay the prescribed fees and taxes required of a domestic casualty insurer.
(b) The following provisions of the insurance laws of this state apply to legal service insurance corporations authorized under Section 27-43-8, to the extent that they are not inconsistent with the provisions of this chapter:
(1) Chapters 27-1 and 27-2 - Administration and General Provisions;
(2) Chapter 27-4 - Fees and Taxes;
(3) Chapter 27-6 - Administration of Deposits;
(4) Chapter 27-11 [27-12] - Unfair Trade Practices; and
(5) Chapter 27-32 - Insurer Insolvency; Rehabilitation and Liquidation.
(c) The commissioner may by rule modify or waive any requirements referred to in subsection (b) of this section for legal service insurers if it is necessary to avoid unreasonable hardship, expense, or inconvenience and if the interests of policyholders continue to be adequately protected.