New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 28 - CAPTIVE INSURANCE
Subchapter 1 - CAPTIVE INSURANCE
Section 11:28-1.13 - Organizational examination
Universal Citation: NJ Admin Code 11:28-1.13
Current through Register Vol. 56, No. 6, March
18, 2024
In addition to the application review, an organizational investigation or examination may be performed before or after an applicant is licensed as a captive. Such investigation or examination shall consist of a general survey of the captive's corporate records, including charter, bylaws and minute books; verification of capital and surplus; verification of principal place of business; determination of assets and liabilities; and a review of such other factors as the Commissioner deems necessary. The materials related to such an investigation or examination as set forth in N.J.S.A. 17:47B-2c.(3) shall be confidential as provided for therein.
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