33-28-304. Participants in sponsored captive insurance companies. (1) An association, corporation, limited liability company, partnership, trust, or other business entity may be a participant in a sponsored captive insurance company.
     (2) A sponsor may be a participant in a sponsored captive insurance company.
     (3) A participant is not required to be a shareholder of a sponsored captive insurance company or its affiliate.
     (4) A participant shall insure only its own risks through a sponsored captive insurance company.

     History: En. Sec. 4, Ch. 383, L. 2003.