1. A. An association, a corporation, a limited liability company, a partnership, a trust, or other business entity may be a participant in a sponsored captive insurance company formed or licensed pursuant to the Oklahoma Captive Insurance Company Act.
2. B. A sponsor may be a participant in a sponsored captive insurance company.
3. C. A participant need not be an owner of the sponsored captive insurance company or an affiliate of the company.
4. D. Unless otherwise approved by the Insurance Commissioner, a participant may insure through a sponsored captive insurance company only its own risks or the risks of its affiliates who are participants.

Laws 2004, HB 2141, c. 334, § 38, emerg. eff. May 25, 2004; Amended by Laws 2013, HB 1108, c. 41, § 23, eff. November 1, 2013 (superseded document available).