(a) An association, corporation, limited liability company, partnership, trust, or other business entity may be a participant in a sponsored captive insurance company formed or licensed under this subchapter.
(b) A sponsor may be a participant in a sponsored captive insurance company.
(c) A participant need not be a shareholder of the sponsored captive insurance company or an affiliate of the company.
(d) A participant shall insure only its own risks through a sponsored captive insurance company.
Section: Previous 23-63-1610 23-63-1611 23-63-1612 23-63-1613 23-63-1614 23-63-1615 23-63-1616 23-63-1617 23-63-1618 23-63-1619 23-63-1620 23-63-1621 23-63-1622 23-63-1623 NextLast modified: November 15, 2016