§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 commissioner in the monitoring, regulation, and development of captive insurance companies under this article.  The commissioner, with the approval of the director of commerce and consumer affairs, shall appoint the administrator who shall be exempt from chapter 76.  The administrator shall serve at the pleasure of the director of commerce and consumer affairs and shall report directly to the commissioner.

     (b)  "Administrator", where used in this article, means the captive insurance administrator. [L 1997, c 261, pt of §2; am L 2000, c 253, §150; am L 2003, c 205, §1]