58-6A-4. Financial information submitted to director.
138 words·~1 min read·
/sd/title-58/chapter-58-6/58-6a-4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any risk retention group doing business in this state shall submit to the director:
(1)A copy of the group's financial statement submitted to its state of domicile, which shall be certified by an independent public accountant and contain a statement of opinion on loss and loss adjustment expense reserves made by a member of the American Academy of Actuaries or a qualified loss reserve specialist under criteria established by the National Association of Insurance Commissioners;
(2)A copy of each examination of the risk retention group as certified by the director or public official conducting the examination;
(3)Upon request by the director, a copy of any audit performed with respect to the risk retention group; and
(4)Such information as may be required to verify its continuing qualification as a risk retention group under this chapter.