304.49 -210 Permissible participants in sponsored captive insurer. (1) Associations, corporations, limited liability companies, partnerships, trusts, and other business entities may be participants in any sponsored captive insurer formed or issued a certificate of authority under KRS 304.49 -010 to 304.49 -230. (2) A sponsor ma y be a participant in a sponsored captive insurer. (3) A participant need not be a shareholder of the sponsored captive insurer or any affiliate thereof. (4) A participant shall insure only its own risks through a sponsored captive insurer. Effective: July 14, 2000 History: Created 2000 Ky. Acts ch. 434, sec. 21, effective July 14, 2000.
Kentucky Legal Code