State Codes and Statutes

Statutes > Connecticut > Title38a > Chap698c > Sec38a-251

      Sec. 38a-251. (Formerly Sec. 38-531). Licensure of risk retention groups chartered in this state. Submission of plan of operation. A risk retention group seeking to be chartered in this state must be chartered and licensed as a liability insurance company authorized by the insurance laws of this state and, except as provided in sections 38a-250 to 38a-266, inclusive, shall comply with all of the laws, rules, regulations and requirements applicable to such insurers chartered and licensed in this state, and with section 38a-252 to the extent such requirements are not a limitation on laws, rules, regulations or requirements of this state. Before it may offer insurance in any state, each risk retention group shall also submit for approval to the Insurance Commissioner of this state a plan of operation or a feasibility study and revisions of such plan or study if the group intends to offer any additional lines of liability insurance.

      (P.A. 87-135, S. 2, 18.)

      History: Sec. 38-531 transferred to Sec. 38a-251 in 1991.