[§431:19-304] Qualification of sponsors. A sponsor of a sponsored captive insurance company shall be an insurer licensed under laws of any state, a reinsurer authorized or approved under the laws of any state, a captive insurance company formed or licensed under this article, or any other person, company, or organization approved by the commissioner in the exercise of the commissioner's discretion, after finding that the approval of that person, company, or organization as a sponsor is not inconsistent with the purposes of this article. A risk retention group shall not be either a sponsor or a participant of a sponsored captive insurance company. [L 2008, c 190, pt of §1]
Section: Previous 431-19-211 431-19-212 431-19-213 431-19-214 431-19-301 431-19-302 431-19-303 431-19-304 431-19-305 431-19-306 431-19-307 431-19-308 431-19-309 431-20-101 431-20-102 NextLast modified: October 27, 2016