N.J.S.A. 17:47B-9 — Compliance with investment requirements.

17:47B-9 Compliance with investment requirements. 9. a. A captive insurance company shall comply with investment requirements to be prescribed by the commissioner by regulation. b. A pure captive insurance company shall not make a loan to, or an investment in, its parent company or affiliates without prior written approval of the commissioner, and a loan or investment shall be evidenced by documentation approved by the commissioner. A pure captive insurance company shall not make a loan using the minimum capital and surplus funds required by section 3 of this act. L.2011, c.25, s.9.

This is the verbatim text of N.J.S.A. 17:47B-9, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.