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2017 New Jersey Revised Statutes
TITLE 17 - CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Section 17:47B-18 - Regulations relative to risk retention group.
Universal Citation: NJ Rev Stat § 17:47B-18 (2017)
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.
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