§ 6036 - Participants in sponsored captive insurance companies - Vermont Statutes

§ 6036. Participants in sponsored captive insurance companies

(a) Associations, corporations, limited liability companies, partnerships, trusts, and other business entities may be participants in any sponsored captive insurance company formed or licensed under this chapter.

(b) A sponsor may be a participant in a sponsored captive insurance company.

(c) A participant need not be a shareholder of the sponsored captive insurance company or any affiliate thereof.

(d) A participant shall insure only its own risks through a sponsored captive insurance company. (Added 1999, No. 38, § 19, eff. May 20, 1999; amended 2003, No. 55, § 9.)