RS 22:550.8: Initial examination and issuance of certificate of authority

Upon receipt of the application for certificate of authority, the commissioner shall cause an initial examination to be made of the captive insurance company. If, in the opinion of the commissioner, the examination shows the corporation to be duly organized with adequate capital and surplus to meet its policyholder obligations, and in compliance with all requirements of law, he shall notify the applicant and issue a certificate of authority.