§431:19-101.3 Classes of captive insurance. Each captive insurance company formed under this article shall be designated and licensed as one of the following classes of captive insurance companies:

(1) A class 1 company shall be limited to a pure captive insurance company that only writes business as a reinsurer;

(2) A class 2 company shall be limited to a pure captive insurance company that is not a class 1 company;

(3) A class 3 company shall be any company formed under this article as an association captive insurance company or a risk retention captive insurance company;

(4) A class 4 company shall be a leased capital facility formed under this article; and

(5) A class 5 company shall be a reinsurance or excess insurance company formed under section 431:19-111.5. [L 1999, c 302, §1; am L 2000, c 36, §3]