N.J. Admin. Code § 11:28-1.6

Current through Register Vol. 57, No. 1, January 6, 2025

Section 11:28-1.6 - Captive managers

(a) No person shall act as a captive manager in this State unless they are registered with the Department as a captive manager. The Department shall maintain a list of registered captive managers in this State and shall post on its website a list of all registered captive managers who indicated on their application that their contact information may be published. Individuals seeking registration as a captive manager shall submit an application for captive manager and a Biographical Affidavit (forms can be found on the Department's website at http://www.state.nj.us/dobi/division_insurance/captive/serviceproviders.html) to the Department for approval. The application requests the name and address of the captive manager/firm, the date of formation and incorporation, and the names of any captives currently under management.

(b) Any person acting as a captive manager in this State shall have an office in New Jersey and shall maintain in this State the books and records of all licensed New Jersey captives being managed by that manager.