(1) An insurer shall not engage the services of any person, firm, association or corporation to act as a reinsurance intermediary broker on its behalf unless such person is licensed as required by Section 83-19-205.
(2) An insurer may not employ an individual who is employed by a reinsurance intermediary broker with which it transacts business, unless such reinsurance intermediary broker is under common control with the insurer and subject to the Holding Company Act.
(3) The insurer shall obtain annually a copy of statements of the financial condition of each reinsurance intermediary broker with which it transacts business.