§58-10-515. Participation in a protected cell captive insurance company

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(a)        Associations, corporations, limited liability companies, partnerships, trusts, and other business entities may be participants in any protected cell captive insurance company formed or licensed under this Part.

(b)        A sponsor may be a participant in a protected cell captive insurance company.

(c)        A participant need not be a shareholder of the protected cell captive insurance company or any affiliate thereof.

(d)       A participant shall insure only its own risks through a protected cell captive insurance company.

(2013-116, s. 1.)

                    
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