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2022 Code of Alabama
Title 27 - Insurance.
Chapter 31B - Alabama Captive Insurers Act.
Section 27-31B-20 - Rules for Controlled Unaffiliated Business.
Universal Citation: AL Code § 27-31B-20 (2022)
Section 27-31B-20
Rules for controlled unaffiliated business.
The commissioner shall adopt rules establishing standards to ensure that a parent or affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by the captive insurance company. Until the rules under this section are adopted, the commissioner may by temporary order grant authority to a captive insurance company to insure risks.
(Act 2006-509, p. 1153, §1; Act 2016-191, §1.)
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