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Code of Alabama - Title 27: Insurance - Chapter 31C - Alabama Coastal Captive Insurance Act

Legal Research Home > Alabama Lawyer

  • Section 27-31C-1 Short title
    This chapter may be cited as the Alabama Coastal Captive Insurance Company Act. ...
  • Section 27-31C-2 Definitions
    For the purpose of this chapter : (1) ALABAMA COASTAL CAPTIVE INSURANCE COMPANY. A captive insurance company, as is defined by Section 27-31B-2(8), that ...
  • Section 27-31C-3 License to provide homeowners insurance; exemptions; powers and duties
    (a) An Alabama Coastal Captive Insurance Company, if permitted by its articles of incorporation or organization, operating agreements, or charter, may apply to the ...
  • Section 27-31C-4 Issuance of license - Requirements
    (a)(1) The commissioner may not issue a license to an Alabama Coastal Captive Insurance Company unless the company possesses and maintains unimpaired paid-in capital ...
  • Section 27-31C-5 Formation requirements
    (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 ...
  • Section 27-31C-6 Exemptions from chapter
    The commissioner, by rule, regulation, or order, may exempt an Alabama Coastal Captive Insurance Company, on a case-by-case basis, from provisions of this chapter ...
  • Section 27-31C-7 Confidentiality of information
    The confidentiality provisions of Sections 27-31B-9(b) and 27-31B-10 do not extend to final reports of its financial condition produced by the commissioner in inspecting ...
  • Section 27-31C-8 Application notice and acknowledgement
    (a) An Alabama Coastal Captive Insurance Company shall include the following notice on each application form for insurance, as well as the declaration page ...
  • Section 27-31C-9 Findings of the commissioner
    The commissioner may not issue a license to an Alabama Coastal Captive Insurance Company unless the commissioner finds that the: (1) Coastal captive insurance ...

Last modified: February 19, 2012


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