The Insurance Commissioner shall promulgate regulations establishing standards to ensure that a parent or affiliated company is able to exercise control of the risk management for any controlled unaffiliated business to be insured by a pure captive insurance company; however, until such time as these regulations are promulgated, the Insurance Commissioner may by temporary order grant authority to a pure captive insurance company to insure risks.

Laws 2004, HB 2141, c. 334, § 34, emerg. eff. May 25, 2004; Amended by Laws 2013, HB 1108, c. 41, § 19, eff. November 1, 2013 (superseded document available); Amended by Laws 2015, SB 455, c. 298, § 24, eff. November 1, 2015 (superseded document available).