§550.19. Prohibited acts regarding solicitation or sale

            A captive insurance company shall not engage in either of the following:

            (1) The solicitation or sale of insurance by an association captive insurance company to any person who is not eligible for membership in such association.

            (2) The solicitation or sale of insurance by, or operation of, a captive insurance company that is in a hazardous financial condition or is financially impaired.

            Acts 2008, No. 403, §1, eff. Jan. 1, 2009; Redesignated by Acts 2009, No. 503, §3; Acts 2025, No. 313, §2.