Sec. 964.055. CERTIFICATE OF AUTHORITY REQUIRED. (a) An entity may not engage in business as a captive insurance company domiciled in this state unless it holds a certificate of authority issued by the department to act as a captive insurance company. A captive insurance company, when permitted by its certificate of formation or governing document, may apply for a certificate of authority under this chapter. (b) An entity does not qualify for a certificate of authority under this chapter unless: (1) its affiliates have significant operations in this state, as determined by the commissioner; (2) its board of directors or governing body holds at least one meeting each year in this state; (3) it maintains its principal office and books and records in this state, unless the commissioner grants an application to relocate the entity's books and records under Chapter 803 ; and (4) it complies with Section 804.101 or 804.102 .
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