31A-37a-201. Certificate of authority requirements. (1) A person may not reinsure the risks of a ceding insurer unless the person has a certificate of authority under this chapter as a special purpose financial captive insurance company. (2) To apply for a certificate of authority under this chapter as a special purpose financial captive insurance company, […]
31A-37a-202. Revocation, suspension, amendment, or modification of a certificate of authority. Except as provided in Sections 31A-37a-501 and 31A-37a-502, the commissioner may not revoke, suspend, amend, or modify a certificate of authority issued to a special purpose financial captive insurance company under this chapter or an order issued under Subsection 31A-37a-201(4) unless: (1) the special […]
31A-37a-203. Reporting related to transactions. (1) A special purpose financial captive insurance company shall provide the commissioner with a copy of a complete set of executed documentation of an insurance securitization no later than 30 days after the day on which the insurance securitization transaction closes. (2) Section 31A-37-503 applies to: (a) information submitted pursuant […]
31A-37a-204. Prior approval of a change in plan of operation and other transactions. (1) A special purpose financial captive insurance company may not change its plan of operation without the prior approval of the commissioner. (2) (a) Subject to Subsection (2)(b), a special purpose financial captive insurance company may not engage in a transaction or […]
31A-37a-205. Sponsored captives. In addition to the other provisions of this chapter, this section applies to a sponsored captive insurance company under Chapter 37, Captive Insurance Companies Act, that has a certificate of authority as a special purpose financial captive insurance company pursuant to this chapter. (1) A sponsored captive insurance company may have a […]
