TITLE 4: ECONOMIC RESOURCES
DIVISION 7: INSURANCE
§ 7909.
Dividends.
No captive insurance company may pay a dividend out of, or other distribution with respect to, capital or surplus without the prior approval of the Commissioner. Approval of an ongoing plan for the payment of dividends or other distributions shall be conditioned upon the retention, at the time of each payment, of capital or surplus in excess of amounts specified by, or determined in accordance with formulas approved by, the Commissioner. A captive insurance company or incorporated protected cell organized under the provisions of Title 4, Chapter 8 may make such distributions as are in conformity with its stated purposes and approved by the Commissioner.
Source: PL 24-03, § 2 (June 12, 2025).