- (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 this chapter.
- (B) A sponsor may be a participant in a sponsored captive insurance company.
- (C) A participant need not be a shareholder of the sponsored captive insurance company or an affiliate of the company.
- (D) A participant shall insure only its own risks through a sponsored captive insurance company, unless otherwise approved by the director.
HISTORY: 2000 Act No. 331, Section 1; 2001 Act No. 58, Section 14, eff May 29, 2001.