Section 6470.31 - Participants in sponsored captive insurance companyA. 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 formed or licensed pursuant to the Oklahoma Captive Insurance Company Act.B. A sponsor may be a participant in a sponsored captive insurance company.C. A participant need not be an owner of the sponsored captive insurance company or an affiliate of the company.D. Unless otherwise approved by the Insurance Commissioner, a participant may insure through a sponsored captive insurance company only its own risks or the risks of its affiliates who are participants.Okla. Stat. tit. 36, § 6470.31
Amended by Laws 2013 , c. 41, s. 23, eff. 11/1/2013.Added by Laws 2004 , HB 2141, c. 334, §38, emerg. eff. 5/25/2004.