SECTION 365:25-15-20. Sponsored captive and cell assets

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(a) The assets of a sponsored captive insurer shall be either protected cell assets or general assets. The protected cell assets shall comprise the assets of the sponsored captive insurer held within or on behalf of the protected cells of the sponsored captive insurer. The general assets of a sponsored captive insurer shall comprise the assets of the sponsored captive insurer which are not protected cell assets.
(b) The assets of a protected cell are comprised of assets representing the capital stock and reserves attributable to the protected cell or all other assets attributable to or held within the protected cell. For the purposes of this Section, "reserves" includes retained earnings, capital surplus, and paid-in capital.

[Source: Added at 32 Ok Reg 1953, eff 9-15-15]

                    
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