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.