7006

Every captive insurance company licensed to do a captive insurance business in this state shall file with the superintendent:\n(a) annually on or before March first, a statement of its financial condition and any amendment to the plan of operation at last year-end, verified by the oath of at least two of its executive officers. The statement shall be in the form prescribed by the superintendent; and\n(b) annually on or before July first, a report of its financial condition at last year-end with an opinion of an independent certified public accountant; and\n(c) annually on or before July first, evidence in a form prescribed by the superintendent, that the industrial insured or member of the industrial insured group owning the captive insurance company continues to meet the financial standards set forth in subsection (e) of section seven thousand two of this article.