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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 47b:
Section: 17:47b-18: Regulations relative to risk retention group.
18. a. A risk retention group shall not be either a sponsor or participant in a sponsored captive insurance company.
b. An association, corporation, limited liability company, partnership, trust or any another business entity may be a participant in any sponsored captive insurance company formed or licensed under this act.
c. A sponsor may be a participant in a sponsored captive insurance company.
d. A participant need not be a shareholder of a sponsored captive insurance company or any affiliate of a sponsored captive insurance company.
e. A participant shall insure only its own risks through a sponsored captive insurance company.
L.2011, c.25, s.18.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:47b-18 (if available):
Court decisions that cite this statute:
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