(a) A protected cell company insurance securitization shall not be deemed to be an insurance or reinsurance contract.
(b) An investor in a protected cell company insurance securitization shall not be deemed, by sole means of this investment, to be transacting insurance business in this state.
(c) The underwriters or selling agents and their partners, directors, officers, members, managers, employees, agents, representatives, and advisors involved in a protected cell company insurance securitization shall not be deemed to be conducting an insurance or reinsurance agency, brokerage, intermediary, advisory, or consulting business by virtue of their activities in connection with the protected cell company insurance securitization.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 63 - Insurance Companies Generally
Subchapter 17 - Protected Cell Company Act
§ 23-63-1704. Establishment of protected cells
§ 23-63-1705. Use and operation of protected cells
§ 23-63-1706. Reach of creditors and other claimants
§ 23-63-1707. Conservation, rehabilitation, or liquidation of protected cell companies