Search OpenLegislation Statutes

This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
Insurance (ISC) CHAPTER 28, ARTICLE 70
§ 7009. Investments. (a) No captive insurance company shall be
subject to any restrictions on allowable investments, except as set
forth in subsections (b) and (c) of this section.

(b) A group captive insurance company shall not make loans to the
industrial insureds that comprise its industrial insured group. A pure
captive insurance company may make loans to its parent company or
affiliates with the prior approval of the superintendent. Such loan
must be evidenced by a note in a form approved by the superintendent.
Loans of minimum capital and surplus funds required by section seven
thousand four of this article are prohibited.

(c) The superintendent may prohibit or limit any investment that
threatens the solvency or liquidity of any captive insurance company.