1. (1) A captive insurance company may not adopt a name that is:

   1. (a) the same as any other existing business name registered in this state;
   2. (b) deceptively similar to any other existing business name registered in this state; or

   3. (c) likely to be:

      1. (i) confused with any other existing business name registered in this state; or
      2. (ii) mistaken for any other existing business name registered in this state.
2. (2) An applicant captive insurance company that submits an application for a certificate of authority on or after May 14, 2019, or a captive insurance company that changes its name on or after May 14, 2019, shall include the word "insurance" or a term of equivalent meaning in its name.

Amended by Chapter 193, 2019 General Session