20-1098.06. Protected cell captive insurers; sponsors; participants A. A risk retention group shall not be either a sponsor or a participant in a protected cell captive insurer. B. An association, corporation, limited liability company, partnership, trust or any other business entity may be a participant in any protected cell captive insurer formed or licensed under this article. C. A sponsor may be a participant in a protected cell captive insurer. D. A participant need not be a shareholder of a protected cell captive insurer or any affiliate of a protected cell captive insurer. E. Each protected cell shall comply with the restrictions prescribed in section 20-1098.01, subsection A with respect to the risks insured through the protected cell.
Arizona Legal Code