(a) A captive insurance company shall not use any name which is either similar, misleading, or confusing with respect to any other name already in use by any other captive insurance company, domestic mutual or stock insurance company, corporation, or association organized or doing business in this state. The Commissioner shall not approve the formation documents of an applicant attempting to use such a name nor shall the Commissioner approve an application for a certificate of authority from such applicant.
(b) The name of a risk retention group captive insurance company shall include the words "risk retention group captive insurance company."
(c) If the captive insurance company is a mutual insurer, the word "mutual" shall be a part of its name.
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