14 .0701 - FOREIGN RISK RETENTION GROUP REGISTRATION

14 .0701. FOREIGN RISK RETENTION GROUP REGISTRATION

(a) Risk retention groups chartered in another state and not holding a current certificate of authority issued by the Commissioner shall, before offering liability insurance and before filing a feasibility study, request an application for registration as a liability risk retention group and guidelines for filing a plan of operation.

(b) Risk retention groups chartered in another state and not holding a current certificate of authority issued by the Commissioner shall, before offering liability insurance as a liability risk retention group on any risk located in this state, register with the Commissioner on the form designated in 11 NCAC 14 .0428 and provide the additional information requested on the form. Feasibility studies filed that are not in compliance with the plan of operation guidelines shall be returned without registration.

(Authority G.S. 58-22-20; 58-22-70; Eff. April 1, 1990.)

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