Section 431:19-305 - Participants in sponsored captive insurance companies(a) Associations, corporations, limited liability companies, partnerships, trusts, risk retention groups, and other business entities may be participants in any sponsored captive insurance company formed or licensed under this chapter.(b) A sponsor of a sponsored captive insurance company may be a participant.(c) A participant need not be a shareholder or member of the sponsored captive insurance company or any affiliate thereof.(d) A participant shall insure only its own risks through a sponsored captive insurance company.Amended by L 2016, c 141,§ 11, eff. 7/1/2016. L 2008, c 190, pt of §1 .