Forming a protective cell captive insurance company

(a) One (1) or more sponsors may form a protected cell captive insurance company under this chapter. In addition to part 1 of this chapter, this part shall apply to protected cell captive insurance companies. (b) A protected cell captive insurance company shall be incorporated as a stock insurer with its capital divided into shares and held by the stockholders, as a mutual corporation, as a nonprofit corporation with one (1) or more members, or as a limited liability company. Amended by 2015 Tenn. Acts, ch. 156,s 13, eff. 4/17/2015. Amended by 2013 Tenn. Acts, ch. 139,s 3, eff. 4/12/2013. Acts 2011, ch. 468, § 1. (a) One (1) or more sponsors may form a protected cell captive insurance company under this chapter. In addition to part 1 of this chapter, this part shall apply to protected cell captive insurance companies. (b) A protected cell captive insurance company shall be incorporated as a stock insurer with its capital divided into shares and held by the stockholders, as a mutual corporation, as a nonprofit corporation with one (1) or more members, or as a limited liability company. Amended by 2015 Tenn. Acts, ch. 156,s 13, eff. 4/17/2015. Amended by 2013 Tenn. Acts, ch. 139,s 3, eff. 4/12/2013. Acts 2011, ch. 468, § 1.