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.