58-46-14Acquisitions, mergers and consolidation procedures.

The provisions of chapters 58-5 and 58-5A pertaining to acquisitions, mergers, and consolidations apply in determining the procedures to be followed by captive insurance companies in carrying out any of the transactions described by those chapters. However, the director may waive or modify the requirements for public notice and hearing in accordance with rules which the director may adopt pursuant to chapter 1-26, addressing categories of transactions. If a notice of public hearing is required and no one requests a hearing, the director may cancel the hearing.

Source: SL 1996, ch 287, § 14.