(a) Any number of corporate or adult natural persons may organize a legal service insurance corporation under this section.
(b) The articles of incorporation shall conform to the requirements applicable to corporations, except that:
(1) The name of the corporation shall indicate that payment for legal services or indemnity for legal expenses is to be provided; and
(2) The purposes of the corporation shall be limited to payment for legal services or indemnity for legal expenses and business expenses reasonably related thereto.
Structure Code of Alabama
Chapter 43 - Legal Expense Insurance.
Section 27-43-1 - Short Title.
Section 27-43-2 - Purpose of Chapter.
Section 27-43-3 - Definitions.
Section 27-43-4 - Applicability of Chapter.
Section 27-43-5 - Authorization of Prepaid Legal Expense Insurance Business Required.
Section 27-43-6 - Insurers Deemed Eligible to Transact Legal Expense Insurance.
Section 27-43-7 - Procedure for Incorporation of Legal Services Insurance Corporation Generally.
Section 27-43-9 - Bond or Deposit Requirements.
Section 27-43-11 - Premium Rates.
Section 27-43-12 - Filing, Approval, etc., of Contracts Between Insurers and Attorneys, Etc.
Section 27-43-14 - Applicability of Chapters 7 and 8a.
Section 27-43-15 - Registration Requirements - Sales Agents.
Section 27-43-21 - Disposition of Moneys Received From Licenses and Fees.