ACT 140, SB2853 SD2 HD1 CD1, 6/29/2016Posted on Jul 1, 2016 in 2016 Acts
RELATING TO INSURANCE.
Adopts the National Association of Insurance Commissioners (NAIC) Risk Management and Own Risk and Solvency Assessment Model Act. Applies certain requirements for risk-based capital provisions, severability, and notice provisions to risk retention captive insurance companies. Incorporates revisions to the NAIC Model Risk Retention Act. (CD1)