(a) The examination of a branch captive insurance company pursuant to Kan. Stat. Ann. § 40-4308, and amendments thereto, shall be of branch business and branch operations only, so long as the branch captive insurance company provides annually to the commissioner a certificate of compliance, or its equivalent, issued by or filed with the licensing authority of the domiciliary jurisdiction of the branch captive insurance company, and demonstrates to the commissioner’s satisfaction that it is operating in sound financial condition in accordance with all applicable laws and regulations of such jurisdiction.

(b) As a condition of the issuance of a certificate of authority under this act, a branch captive insurance company shall grant authority to the commissioner for examination of the affairs of a branch captive insurance company in the jurisdiction in which the branch captive insurance company is formed, operates or maintains books and records.

(c) All reports shall be given the same confidential treatment as provided in Kan. Stat. Ann. § 40-4308, and amendments thereto.