§550.28. Rules for controlled unaffiliated businesses

            The commissioner may adopt rules establishing standards to ensure that a parent or its affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by a pure captive insurance company, provided that until such time as rules pursuant to this Section are adopted by the commissioner, the commissioner may approve the coverage of such risks by a pure captive insurance company.

            Acts 2025, No. 313, §2.