§33-31-24. Examination.
(a) The examination of a branch captive insurance company
pursuant to section eight of this article shall be of branch
business and branch operations only, so long as the branch captive
insurance company annually provides to the commissioner a
certificate of compliance, or its equivalent, issued by or filed
with the licensing authority of the jurisdiction in which the
branch captive insurance company is formed and demonstrates to the
commissioner's satisfaction that it is operating in sound financial
condition in accordance with all applicable laws and regulations of
such jurisdiction.
(b) As a condition of licensure, the alien captive insurance
company shall grant authority to the commissioner for examination
of the affairs of the alien captive insurance company in the
jurisdiction in which the alien captive insurance company is
formed.