58-46-5. Additional filing requirements.

In addition to the information required by § 58-46-4, each applicant captive insurance company shall file with the director evidence of the following:

(1)    The amount and liquidity of its assets relative to the risks to be assumed;

(2)    The adequacy of the expertise, experience, and character of the management;

(3)    The overall soundness of its plan of operation;

(4)    The adequacy of the loss prevention programs of its parent and affiliated entities; and

(5)    Such other factors deemed relevant by the director in ascertaining whether the proposed captive insurance company will be able to meet its policy obligations.

Source: SL 1996, ch 287, § 5; SL 2013, ch 257, § 4.