Alabama § 27-31C-5 Formation Requirements

Alabama Statutes

§ 27-31C-5 — Formation Requirements

Alabama § 27-31C-5

Title 27Insurance

Ch. 31CAlabama Coastal Captive Insurance Act

This text of Alabama § 27-31C-5 (Formation Requirements) 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 § 27-31C-5 (2026).

Text

(a)The requirements of Section 27-31B-8 apply to an Alabama Coastal Captive Insurance Company.

(b)The commissioner has discretion to restrict the form of an Alabama Coastal Captive Insurance Company to one or more of the types of defined captives listed in Section 27-31B-8, and has the discretion to accept or deny an application based on a finding that one or more of the incorporation or organization options available are not feasible for an Alabama Coastal Captive Insurance Company.

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(a) The requirements of Section 27-31B-8 apply to an Alabama Coastal Captive Insurance Company.
(b) The commissioner has discretion to restrict the form of an Alabama Coastal Captive Insurance Company to one or more of the types of defined captives listed in Section 27-31B-8, and has the discretion to accept or deny an application based on a finding that one or more of the incorporation or organization options available are not feasible for an Alabama Coastal Captive Insurance Company.