Purpose

This subchapter provides: (1) A basis for the creation of protected cells by a domestic insurer as one means of accessing alternative sources of capital and achieving the benefits of insurance securitization; (2) Funds to investors in fully funded insurance securitization transactions that are available to pay the insurer's insurance obligations or to repay the investors, or both; and (3) A means to achieve more efficiencies in conducting insurance securitizations. Acts 2001, No. 1428, § 2. This subchapter provides: (1) A basis for the creation of protected cells by a domestic insurer as one means of accessing alternative sources of capital and achieving the benefits of insurance securitization; (2) Funds to investors in fully funded insurance securitization transactions that are available to pay the insurer's insurance obligations or to repay the investors, or both; and (3) A means to achieve more efficiencies in conducting insurance securitizations. Acts 2001, No. 1428, § 2.