(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.Amended by 2013 Tenn. Acts, ch. 139,Secs.s13, s14 eff. 4/12/2013. Acts 2011, ch. 468, § 1.
Tennessee Legal Code