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.
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