Before licensing, the applicant business entity shall report in writing to the Commissioner the name and address of the captive manager designated to manage the captive insurance company. The Commissioner shall approve the captive manager and may require the submission of additional information regarding the proposed captive manager in a form and manner as the Commissioner may designate. All licensed captive insurance companies shall, at all times, be managed by a captive manager approved by the Commissioner.
N.C. Gen. Stat. § 58-10-360
Designation of captive manager
Known as the North Carolina Captive Insurance Act
The act spans §§ 58–58 (145 sections).
2013-116, s. 1; 2014-65, s. 3; 2015-99, s. 1; 2022-7, s. 6.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.