The Committee on Labor, Commerce and Industry proposes the following amendment (LC-210.PH0002H):

Amend the bill, as and if amended, SECTION 3, by striking Section 38-90-20(A) and inserting:

 (A) A captive insurance company, when permitted by its articles of incorporation, articles of organization, operating agreement, or charter, may apply to the director for a license to provide any and all insurance, except workers' compensation insurance written on a direct basis, authorized by this title; including, without limitation, liquor liability insurance; however:
  (1) a pure captive insurance company may not insure any risks other than those of its parent, affiliated companies, controlled unaffiliated business, risks assumed from a risk pool for the purpose of risk sharing, or a combination of them;
  (2) an association captive insurance company may not insure any risks other than those of the member organizations of its association and their affiliated companies;
  (3) an industrial insured captive insurance company may not insure any risks other than those of the industrial insureds that comprise the industrial insured group and their affiliated companies;
  (4) a special purpose captive insurance company may provide insurance or reinsurance, or both, for risks as approved by the director;
  (5) a captive insurance company may not provide personal motor vehicle or homeowner's insurance coverage written on a direct basis;
  (6) a captive insurance company may not accept or cede reinsurance except as provided in Section 38-90-110.;
  (7) a captive insurance company may not issue eroding or declining liquor liability insurance coverage whereby the occurrence or aggregate limits are reduced by costs or expenses arising from the insurance company's duty to defend a claim.

Renumber sections to conform.

Amend title to conform.