Section 58-10-515 - Participants in a protected cell captive insurance company(a) Any person may be a participant in a protected cell captive insurance company formed or licensed under this Part.(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) Except as otherwise approved by the Commissioner, a participant shall insure only its own risks and the risks of its affiliates through a protected cell captive insurance company.N.C. Gen. Stat. § 58-10-515
Amended by 2016 N.C. Sess. Laws 78,s. 4.1-u, eff. 6/30/2016.Amended by 2015 N.C. Sess. Laws 99,s. 1, eff. 6/19/2015.Added by 2013 N.C. Sess. Laws 116,s. 1, eff. 7/1/2013.