(1) A special purpose financial captive insurance company may be:
(a) incorporated as a stock insurer with its capital divided into shares and held
by its stockholders; or
(b) organized as a manager-managed limited liability company.
(2) A special purpose financial captive insurance company's organizational documents
shall limit the special purpose financial captive insurance company's authority to
transact the business of insurance or reinsurance to those activities that the special
purpose financial captive insurance company conducts to accomplish its purposes as
expressed in this chapter.
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