[§431:19-301] Formation. (a) One or more sponsors may form a sponsored captive insurance company under this part. In addition to the general provisions of this article, the provisions of this part shall apply to sponsored captive insurance companies.
(b) A sponsored captive insurance company shall be incorporated as a stock insurer with its capital divided into shares and held by the stockholders, as a nonprofit corporation with one or more members, or as a member-managed or manager-managed limited liability company. [L 2008, c 190, pt of §1]
Section: Previous 431-19-208 431-19-209 431-19-210 431-19-211 431-19-212 431-19-213 431-19-214 431-19-301 431-19-302 431-19-303 431-19-304 431-19-305 431-19-306 431-19-307 431-19-308 NextLast modified: October 27, 2016