- (a) One or more sponsors may form a protected cell captive insurance company under this act. This act shall apply to protected cell captive insurance companies.
- (b) A protected cell captive insurance company shall be incorporated as a stock insurer with its capital divided into shares and held by the stockholders as a mutual corporation, as a nonprofit corporation with one or more members or as a limited liability company.
L. 2025, ch. 99, § 2; July 1.