# Conn. Gen. Stat. § 38a-129: Sec. 38a-129. (Formerly Sec. 38-39a). Purpose. Definitions. Applicability to captive insurance companies > Connecticut · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-129 ## Section - **Citation:** Conn. Gen. Stat. § 38a-129 - **Heading:** Sec. 38a-129. (Formerly Sec. 38-39a). Purpose. Definitions. Applicability to captive insurance companies - **Jurisdiction:** Connecticut - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Connecticut Code / Title 38a / Chapter 698 / Section 38a-129 ## Text (b) As used in sections 38a-129 to 38a-140 , inclusive, the following terms shall have the respective meanings hereinafter set forth, unless the context shall otherwise require: (1) “Affiliate” or “affiliated” has the same meaning as provided in section 38a-1 ; (2) “Commissioner” means the Insurance Commissioner and any assistant to the Insurance Commissioner designated and authorized by the commissioner while acting under such designation; (3) “Control”, “controlled by” or “under common control with” has the same meaning as provided in section 38a-1 ; (4) “Enterprise risk” means any activity, circumstance, event or series of events involving one or more affiliates of an insurer that, if not remedied promptly, is likely to have a material adverse effect upon the financial condition or liquidity of the insurer or the insurer's insurance holding company system as a whole, including, but not limited to, any activity, circumstance, event or series of events that would cause an insurer's risk-based capital to fall below minimum threshold levels, as described in subsection (d) of section 38a-72 or, for a health care center, in subdivision (2) of subsection (a) of section 38a-193 , or would cause the insurer to be in a hazardous financial condition; (5) “Group capital calculation instructions” means the Group Capital Calculation Instructions and Reporting Template as adopted by the NAIC and as amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC; (6) “Insurance holding company system” means two or more affiliated persons, one or more of which is an insurance company; (7) “Insurance company” or “insurer” has the same meaning as provided in section 38a-1 , except that it does not include agencies, authorities or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state; (8) “NAIC” means the National Association of Insurance Commissioners; (9) “NAIC liquidity stress test framework” means the NAIC Liquidity Stress Test Framework publication which includes a history of the NAIC's development of regulatory liquidity stress testing, the scope criteria applicable for a specific data year, and the liquidity stress test instructions and reporting templates for a specific data year, such scope criteria, instructions, and reporting template being as adopted by the NAIC and as amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC; (10) “Person” has the same meaning as provided in section 38a-1 , or any combination of persons so defined acting in concert; (11) “Scope criteria” means the designated exposure bases along with minimum magnitudes thereof for the specified data year used to establish a preliminary list of insurers considered scoped into the NAIC liquidity stress test framework for that data year; (12) A “securityholder” of a specified person means one who owns any security of such person, including common stock, preferred stock, debt obligations and any other security convertible into or evidencing the right to acquire any of the foregoing; (13) “Subsidiary” has the same meaning as provided in section 38a-1 ; and (14) “Voting security” includes any security convertible into or evidencing a right to acquire a voting security. (c) The provisions of sections 38a-129 to 38a-140 , inclusive, shall apply to captive insurance companies, as defined in section 38a-91aa , as specified in section 38a-91oo . Annotation to former section 38-39a: Cited. 184 C. 352. ## Nearby sections - [Conn. Gen. Stat. § 38a-41 Sec. 38a-41. (Formerly Sec. 38-20). Authority to do business. Licensure. Revocation or refusal to renew license. Fines. Company owned by a state or foreign nation or company controlled by insureds not to be issued license. Appeals. Plan of operations. Type of business to be conducted.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-41.md) - [Conn. Gen. Stat. § 38a-41a Sec. 38a-41a. Certificate authorizing formation of insurance company or health care center. Information required by commissioner. Costs.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-41a.md) - [Conn. Gen. Stat. § 38a-42 Sec. 38a-42. (Formerly Sec. 38-20b). Contracts with life, accident or health insurance producers.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-42.md) - [Conn. Gen. Stat. § 38a-43 Sec. 38a-43. (Formerly Sec. 38-22). Certain insurance companies and health care centers may be prohibited from transacting business in this state.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-43.md) - [Conn. Gen. Stat. § 38a-44 Sec. 38a-44. (Formerly Sec. 38-64b). Notice to commissioner of intent to discontinue line of insurance.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-44.md) - [Conn. Gen. Stat. § 38a-47 Sec. 38a-47. (Formerly Sec. 38-53a). Payments by domestic insurance companies for expenditures of Insurance Department and amount appropriated to Office of Health Strategy from Insurance Fund.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-47.md) - [Conn. Gen. Stat. § 38a-48 Sec. 38a-48. (Formerly Sec. 38-53b). *(See end of section for amended version and effective date.) Assessment of payments by domestic insurance companies. Adjustments. Penalty. Interest. Payments credited to Insurance Fund. Allocation of assessments.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-48.md) - [Conn. Gen. Stat. § 38a-53 Sec. 38a-53. (Formerly Sec. 38-24). Requirements re filing of annual reports and financial statements. Late filing fee. Due date extensions.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-53.md) - [Conn. Gen. Stat. § 38a-54 Sec. 38a-54. Audited reports.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-54.md) - [Conn. Gen. Stat. § 38a-55 Sec. 38a-55. Hypothecation of assets.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-55.md) - [Conn. Gen. Stat. § 38a-58a Sec. 38a-58a. Transfer of domicile: By foreign insurance company to this state; by domestic insurance company to another state. Procedures.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58a.md) - [Conn. Gen. Stat. § 38a-58b Sec. 38a-58b. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58b.md) - [Conn. Gen. Stat. § 38a-58d Sec. 38a-58d. Use of state as alien insurer's state of entry. Requirements. Examination of trusteed assets. Revocation of license and liquidation of United States branch.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58d.md) - [Conn. Gen. Stat. § 38a-58e Sec. 38a-58e. Annual and quarterly statements by United States branch.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-58e.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_CT_T38a_C698_S38a-129. Check the current official text before relying on it. Not legal advice.