§431:19-101.8 Captive insurance administrative fund. (a) The commissioner may establish a separate fund designated as the captive insurance administrative fund.

(b) All premium taxes collected from captive insurance companies licensed in this State under this article, all captive insurance company application fees, annual license fees, and examination fees collected pursuant to this article shall be credited to the captive insurance administrative fund. Each fiscal year, the commissioner shall transfer out of the fund and deposit into the insurance regulation fund a total of forty per cent of the total moneys credited to the fund in the prior fiscal year or $250,000, whichever is greater, to pay for the expenditures contemplated by this section. Subject to the foregoing expenditure limit, all moneys remaining in the fund shall revert to the general fund. [L 1997, c 261, pt of §2; am L 1999, c 163, §12]