33-28-303. Delinquency of sponsored captive insurance company. If delinquency proceedings have been taken against a sponsored captive insurance company:
     (1) the assets of a protected cell may not be used to pay any expenses other than those attributable to the protected cell; and
     (2) the capital and surplus of the sponsored captive insurance company must be available at all times to pay expenses of or claims against the sponsored captive insurance company.

     History: En. Sec. 3, Ch. 383, L. 2003.