The provisions of chapter 696B of NRS apply to a sponsored captive insurer if:
1. The assets of a protected cell are not used to pay any expense or claim other than those that are attributable to the protected cell; and
2. The capital and surplus of the sponsored captive insurer are available at all times to pay any expenses of or claims against the sponsored captive insurer.
(Added to NRS by 2005, 2150)