20-1098.19. Establishment of branch captive insurer
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/az/title-20/20-1098-19·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. An alien captive insurer or foreign captive insurer may establish a business unit in this state and become licensed as a branch captive insurer in this state pursuant to this chapter to write insurance or reinsurance in this state except as provided in section 20-1098.01, subsection B and other than workers' compensation or employers' liability insurance.
B. A branch captive insurer shall not conduct any branch business in this state unless it maintains the principal place of business for its branch operations in this state.
C. A branch captive insurer shall be a pure captive insurer with respect to operations and minimum capitalization in this state unless otherwise permitted by the director.