58-6A-3.8. Waiver of audit committee requirement.
The domestic regulator may waive the requirement to establish an audit committee composed of independent board members if the risk retention group is able to demonstrate to the domestic regulator that it is impracticable to do so and the risk retention group's board of directors itself is otherwise able to accomplish the purposes of an audit committee, as described in §58-6A-3.7.
Source: SL 2016, ch 232, §10.