Insurance Law 7006 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 7005 Organization and corporate procedure up ARTICLE 70 Captive Insurance Companies next SECTION 7007 Examinations Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 7006 Annual report Insurance (ISC) CHAPTER 28, ARTICLE 70 § 7006. Annual report. Every captive insurance company licensed to do a captive insurance business in this state shall file with the superintendent: (a) annually on or before March first, a statement of its financial condition and any amendment to the plan of operation at last year-end, verified by the oath of at least two of its executive officers. The statement shall be in the form prescribed by the superintendent; and (b) annually on or before July first, a report of its financial condition at last year-end with an opinion of an independent certified public accountant; and (c) annually on or before July first, evidence in a form prescribed by the superintendent, that the industrial insured or member of the industrial insured group owning the captive insurance company continues to meet the financial standards set forth in subsection (e) of section seven thousand two of this article.