[§431:19-101.5] Captive insurance administrator. (a) There shall be established within the office of the commissioner, a captive insurance administrator, who shall be solely responsible for assisting the insurance commissioner in the monitoring, regulation, and development of captive insurance companies under this article. The insurance commissioner shall, with the approval of the director of commerce and consumer affairs, appoint the administrator who shall be exempt from chapters 76 and 77. The administrator shall serve at the pleasure of the director of commerce and consumer affairs.

(b) "Administrator", where used in this article, means the captive insurance administrator. [L 1997, c 261, pt of §2]