TITLE 4: ECONOMIC RESOURCES
DIVISION 7: INSURANCE
§ 7907.
Rules for Controlled Unaffiliated Businesses.
The Commissioner may adopt rules establishing standards to ensure that a parent or its affiliated company, or an industrial insured or its affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by a pure captive insurance company or an industrial insured captive insurance company, respectively; provided, however, that until such time as rules under this section are adopted, the Commissioner may approve the coverage of such risks by a pure captive insurance company or an industrial insured captive insurance company. Source: PL 24-03, § 2 (June 12, 2025), modified. Commission Comment. In codifying PL 24-03, the Commission capitalized the words “controlled”, “unaffiliated” and “business” in accordance with 1 CMC § 3806(f).