Section 500.4667 - Sponsored captive insurance companies; business entities as participants(1) An association, a corporation, a limited liability company, a partnership, a trust, or other business entity may be a participant in a sponsored captive insurance company authorized pursuant to this chapter.(2) A sponsor may be a participant in a sponsored captive insurance company.(3) A participant need not be a shareholder of the sponsored captive insurance company or an affiliate of the company.(4) A participant shall insure only its own risks through a sponsored captive insurance company, unless otherwise approved by the commissioner.Added by 2008, Act 29,s 20 , eff. 3/13/2008.