Alabama § 27-31B-24 Participants in Protected Cell Captive Insurance Companies

Alabama Statutes

§ 27-31B-24 — Participants in Protected Cell Captive Insurance Companies

Alabama § 27-31B-24

Title 27Insurance

Ch. 31BAlabama Captive Insurers Act

This text of Alabama § 27-31B-24 (Participants in Protected Cell Captive Insurance Companies) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 27-31B-24 (2026).

Text

(a)An association, corporation, limited liability company, partnership, trust, or other business entity may be a participant in a protected cell captive insurance company formed or licensed under this chapter.

(b)A sponsor may be a participant in a protected cell captive insurance company.

(c)A participant need not be a shareholder of the protected cell captive insurance company or an affiliate of the company.

(d)A participant shall insure only approved risks through a protected cell captive insurance company.

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(a) An association, corporation, limited liability company, partnership, trust, or other business entity may be a participant in a protected cell captive insurance company formed or licensed under this chapter.
(b) A sponsor may be a participant in a protected cell captive insurance company.
(c) A participant need not be a shareholder of the protected cell captive insurance company or an affiliate of the company.
(d) A participant shall insure only approved risks through a protected cell captive insurance company.