Sec. 38a-91ee. Payment of dividends and other distributions. - Connecticut Statutes

      Sec. 38a-91ee. Payment of dividends and other distributions. No captive insurance company may pay a dividend out of, or other distribution with respect to, capital or surplus without the prior approval of the Insurance Commissioner. Approval of an ongoing plan for the payment of dividends or other distributions shall be conditioned on the retention, at the time of each payment, of capital or surplus in excess of amounts specified by, or determined in accordance with formulas approved by, the commissioner.

      (P.A. 08-127, S. 5.)

      History: P.A. 08-127 effective January 1, 2009.