§ 27-31B-24 — Participants in Protected Cell Captive Insurance Companies

(a) An association, corporation, limited liability company, partnership, trust, or other business entity may be a participant in a protected cell captive insurance company formed or licensed under this chapter.
(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 an affiliate of the company.
(d) A participant shall insure only approved risks through a protected cell captive insurance company.

Legislative History

(Act 2006-509, p. 1153, §1; Act 2016-191, §1.)