§550.19.  Prohibited acts regarding solicitation or sale

The following acts by a captive insurer are hereby prohibited:

(1)  The solicitation or sale of insurance by an association captive insurer to any person who is not eligible for membership in such association.

(2)  The solicitation or sale of insurance by, or operation of, a captive insurer that is in a hazardous financial condition or is financially impaired.

Acts 2008, No. 403, §1, eff. Jan. 1, 2009; Redesignated by Acts 2009, No. 503, §3.