2006 Kentucky Revised Statutes - .222   Duties of captive insurers.

304.49-222 Duties of captive insurers. (1) A captive insurer shall engage a manager who is a resident of this state. (2) The captive manager shall maintain the books and records of the captive insurer's business, transactions, and affairs at a location that is in this state or shall make them available to the executive director at a location that is in this state. (3) The captive manager shall promptly notify the executive director of any failure of the captive insurer to comply with this section. (4) The executive director may require a captive insurer to discharge a captive manager for failure to substantively fulfill the captive manager's duties under this subtitle. Effective: April 25, 2006 History: Created 2006 Ky. Acts ch. 252, Pt. XXXIV, sec. 1, effective April 25, 2006. Page 1 of 1

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