- (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 an Alabama Coastal Captive Insurance Company to one or more of the types of defined captives listed in Section 27-31B-8, and has the discretion to accept or deny an application based on a finding that one or more of the incorporation or organization options available are not feasible for an Alabama Coastal Captive Insurance Company.
(Act 2008-391, p. 742, §2.)