(1) No risk retention group shall be permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state. No risk retention group, or its insureds, shall receive any benefit from any such fund for claims arising out of the operations of the risk retention group.

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(2) A risk retention group shall participate in this state’s joint underwriting associations and mandatory liability pools as provided by the Insurance Code. [1987 c.774 § 102]