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