2015 Code of Alabama
Title 27 - INSURANCE.
Chapter 31B - ALABAMA CAPTIVE INSURERS ACT.
Section 27-31B-24 - Participants in sponsored captive insurance companies.
(a) An association, corporation, limited liability company, partnership, trust, or other business entity may be a participant in a sponsored captive insurance company formed or licensed under this chapter.
(b) A sponsor may be a participant in a sponsored captive insurance company.
(c) A participant need not be a shareholder of the sponsored captive insurance company or an affiliate of the company.
(d) A participant shall insure only its own risks through a sponsored captive insurance company.
(Act 2006-509, p. 1153, §1.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
