Section 304.49-222 - Duties of captive insurers(1) A captive insurer shall engage a manager who is approved by the commissioner.(2) The captive manager shall maintain the books and records of the captive insurer's business, transactions, and affairs at a location that is in this state or shall make them available to the commissioner at a location that is in this state.(3) The captive manager shall promptly notify the commissioner of any failure of the captive insurer to comply with this section.(4) The commissioner may require a captive insurer to discharge a captive manager for failure to substantively fulfill the captive manager's duties under this subtitle.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 1619, effective,7/15/2010; and ch. 91, sec. 12, effective7/15/2010. -- Created 2006, Ky. Acts ch. 252, Pt. XXXIV, sec. 1, effective 4/25/2006.