Sec. 38a-91ee. Payment of dividends and other distributions.
Sec. 38a-91ee. Payment of dividends and other distributions. No captive insurance company may pay a dividend out of, or other distribution with respect to, capital
or surplus without the prior approval of the Insurance Commissioner. Approval of an
ongoing plan for the payment of dividends or other distributions shall be conditioned
on the retention, at the time of each payment, of capital or surplus in excess of amounts
specified by, or determined in accordance with formulas approved by, the commissioner.
(P.A. 08-127, S. 5.)
History: P.A. 08-127 effective January 1, 2009.