(a) An association, corporation, limited liability company, partnership, trust, or other business entity may be a participant in a protected cell captive insurance company formed or licensed under this chapter. (b) A sponsor may be a participant in a protected cell captive insurance company. (c) A participant need not be a shareholder of the protected cell captive insurance company or an affiliate of the company. (d) A participant shall insure only approved risks through a protected cell captive insurance company.
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