[§431:19-305] Participants in sponsored captive insurance companies. (a) Associations, corporations, limited liability companies, partnerships, trusts, and other business entities may be participants in any sponsored captive insurance company formed or licensed under this chapter.
(b) A sponsor of a sponsored captive insurance company may be a participant.
(c) A participant need not be a shareholder or member of the sponsored captive insurance company or any affiliate thereof.
(d) A participant shall insure only its own risks through a sponsored captive insurance company. [L 2008, c 190, pt of §1]
Section: Previous 431-19-212 431-19-213 431-19-214 431-19-301 431-19-302 431-19-303 431-19-304 431-19-305 431-19-306 431-19-307 431-19-308 431-19-309 431-20-101 431-20-102 431-20-103 NextLast modified: October 27, 2016