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Code · New Jersey · Title 17 — Notice and Publication · Chapter 47B

17:47B-18 Regulations relative to risk retention group.

104 words·~1 min read·/nj/title-17/chapter-47b/17-47b-18·

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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.
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