17:47B-18 Regulations relative to risk retention group.
18. a. A risk retention group shall not be either a sponsor or participant in a sponsored captive insurance company.
b.An association, corporation, limited liability company, partnership, trust or any another business entity may be a participant in any sponsored captive insurance company formed or licensed under this act.
c.A sponsor may be a participant in a sponsored captive insurance company.
d.A participant need not be a shareholder of a sponsored captive insurance company or any affiliate of a sponsored captive insurance company.
e.A participant shall insure only its own risks through a sponsored captive insurance company.
L.2011, c.25, s.18.
Section: Previous 17-47b-11 17-47b-12 17-47b-13 17-47b-14 17-47b-15 17-47b-16 17-47b-17 17-47b-18 17-47b-19 17-48-1 17-48-1.1 17-48-1.2 17-48-1.3 17-48-1.4 17-48-1.5 Next
Last modified: October 11, 2016