Code of Alabama
Title 27 - Insurance.
Chapter 31B - Alabama Captive Insurers Act.

Section 27-31B-1 - Short Title. - This chapter shall be known and may be cited as...

Section 27-31B-2 - Definitions. - As used in this chapter, the following terms shall have...

Section 27-31B-3 - Licensing. - (a) Any captive insurance company, when permitted by its articles...

Section 27-31B-4 - Fees. - (a) The commissioner shall collect the following fees in connection...

Section 27-31B-5 - Names of Companies. - No captive insurance company shall adopt a name that is...

Section 27-31B-6 - Minimum Capital and Surplus. - (a) No captive insurance company shall be issued a license...

Section 27-31B-7 - Dividends. - No captive insurance company may pay a dividend out of,...

Section 27-31B-8 - Formation of Captive Insurance Companies in This State. - (a) A pure captive insurance company, an agency captive insurance...

Section 27-31B-9 - Reports and Statements. - (a) Captive insurance companies shall not be required to make...

Section 27-31B-10 - Examinations and Investigations. - (a) At least once in three years, and whenever the...

Section 27-31B-11 - Grounds and Procedures for Suspension or Revocation of License. - (a) The license of a captive insurance company to do...

Section 27-31B-12 - Legal Investments. - (a) An association captive insurance company, risk retention group, and...

Section 27-31B-13 - Reinsurance. - (a) A captive insurance company may provide reinsurance, as authorized...

Section 27-31B-14 - Rating Organizations; Memberships. - No captive insurance company may be required to join a...

Section 27-31B-15 - Exemption From Compulsory Associations. - No captive insurance company, including a captive insurance company organized...

Section 27-31B-16 - Tax on Premiums Collected. - (a) Each captive insurance company shall pay to the commissioner,...

Section 27-31B-17 - Rules. - The commissioner may establish and from time to time amend...

Section 27-31B-18 - Laws Applicable. - No provisions of this title, other than those contained in...

Section 27-31B-19 - Delinquency. - (a) Except as otherwise provided in this section, the terms...

Section 27-31B-20 - Rules for Controlled Unaffiliated Business. - The commissioner shall adopt rules establishing standards to ensure that...

Section 27-31B-21 - Conversion to or Merger With Reciprocal Insurer. - (a) An association captive insurance company or industrial insured group...

Section 27-31B-22 - Protected Cell Captive Insurance Companies. - (a) One or more sponsors may form a protected cell...

Section 27-31B-23 - Qualification of Sponsors. - Repealed by Act 2016-191, §3, effective July 1, 2016.

Section 27-31B-24 - Participants in Protected Cell Captive Insurance Companies. - (a) An association, corporation, limited liability company, partnership, trust, or...

Section 27-31B-25 - Incorporation of Protected Cells. - (a) A protected cell of a protected cell captive insurance...

Section 27-31B-26 - Approval of Stock Captive Insurer to Become a Mutual Captive Insurer. - A stock captive insurer may become a mutual captive insurer...

Section 27-31B-27 - Redomestication of Captive Insurance Companies. - (a) Notwithstanding any other method authorized by law, a foreign...

Section 27-31B-28 - Risk Retention Groups to Comply With Certain Accreditation Standards. - A risk retention group formed pursuant to this chapter shall...