West Virginia Code 33-31A-3 – Formation of sponsored captive insurance companies
Current as of: 2023 | Check for updates
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One or more sponsors may form a sponsored captive insurance company under the provisions of this article. A sponsored captive insurance company shall be incorporated as a stock insurer with its capital divided into shares and held by the stockholders.
Terms Used In West Virginia Code 33-31A-3
- Sponsored captive insurance company: means any captive insurance company:
(A) In which the minimum capital and surplus required by applicable law is provided by one or more sponsors. See West Virginia Code 33-31A-2