(1)(a) A company shall adopt a conflict of interest statement for its directors, managers, and key employees.
- (b) The conflict of interest statement shall disclose that the individual has no outside commitments, personal or otherwise, that would divert the individual from the individual's duty to further the interests of the company.
- (c) The conflict of interest statement does not preclude an individual from being an officer, director, or manager in more than one insurance company.
- (2) Each officer, director, manager, and key employee shall file a yearly disclosure with the board of directors.
KEY: captive insurance
Date of Last Change: February 9, 2026
Notice of Continuation: May 2, 2022
Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-37-106