Alabama § 27-31B-24 - Participants in Protected Cell Captive Insurance Companies.
Full text of Alabama Code of Alabama § 27-31B-24 — Participants in Protected Cell Captive Insurance Companies., with citation guidance and answers to common questions.
§ 27-31B-24. Participants in Protected Cell Captive Insurance Companies.
(a) An association, corporation, limited liability company, partnership, trust, or other business entity may be a participant in a protected cell captive insurance company formed or licensed under this chapter.
(b) A sponsor may be a participant in a protected cell captive insurance company.
(c) A participant need not be a shareholder of the protected cell captive insurance company or an affiliate of the company.
(d) A participant shall insure only approved risks through a protected cell captive insurance company.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 27-31B-24
What does Code of Alabama § 27-31B-24 cover?
Section 27-31B-24 ("Participants in Protected Cell Captive Insurance Companies.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 27-31B-24?
A common citation format is "Code of Alabama § 27-31B-24" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 27-31B-24 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.