(a) Associations, corporations, limited liability companies, partnerships, trusts, and other business entities may be participants in any 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 any affiliate thereof.
(d) A participant shall insure only its own risks through a protected cell captive insurance company, unless otherwise approved by the commissioner.
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