11-51-90.2
Section 11-51-90.2 Purchase of business license; classification of taxpayers; vehicle decals;
determination of gross receipts; construction with other provisions. (a) Every taxpayer required
to purchase a business license under this chapter shall: (1) Purchase a business license for
each location at which it does business in the municipality, except as otherwise provided
by the municipality. (2) Except as provided in Section 11-51-193, with respect to taxpayers
subject to state licensing board oversight, be classified into one or more of the following
2002 North American Industrial Classification System ("NAICS") sectors and applicable
sub-sectors, industry groups, industries, and U.S. industries thereunder: SECTOR NAICS TITLE
SUGGESTED BUSINESS LICENSE CODE GROUPING BY SAMPLE TOPIC OR CATEGORY BASIS FOR LICENSE CALCULATION
111 Crop Production Agriculture, farming, nursery, fruit, growers Gross Receipts and/or Flat
Rate 112 Animal Production Animal, dairy, cattle, ranching, sheep,...
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27-31B-12
Section 27-31B-12 Legal investments. (a) An association captive insurance company, risk retention
group, and an industrial insured captive insurance company insuring the risks of an industrial
insured group defined in paragraph b. of subdivision (18) of Section 27-31B-2 shall comply
with the investment requirements contained in this title, as applicable; provided, however,
that compliance with these investment requirements shall be waived for risk retention groups
to the extent that credit for risks ceded to reinsurers is allowed pursuant to Section 27-31B-13
or to the extent otherwise deemed reasonable and appropriate by the commissioner. Chapter
37 of this title shall apply to association captives, risk retention groups, and industrial
insured captive insurance companies insuring the risks of industrial insured groups defined
in paragraph b. of subdivision (18) of Section 27-31B-2 except to the extent it is inconsistent
with approved accounting standards in use by the association...
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27-31B-16
Section 27-31B-16 Tax on premiums collected. (a) Each captive insurance company shall pay to
the commissioner, by March 1 of each year, a tax at the rate of four-tenths of one percent
on the first 20 million dollars, three-tenths of one percent on the next 20 million dollars,
two-tenths of one percent on the next 20 million dollars, seventy-five thousandths of one
percent on each dollar thereafter on the direct premiums collected or contracted for on policies
or contracts of insurance written by the captive insurance company during the year ending
December 31 next preceding, after deducting from the direct premiums subject to the tax the
amounts paid to policyholders as return premiums which shall include dividends on unabsorbed
premiums or premium deposits returned or credited to policyholders. Notwithstanding the foregoing,
no tax shall be due or payable as to considerations received for annuity contracts. (b) Each
captive insurance company shall pay to the commissioner by March 1 of...
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27-31B-24
Section 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. (Act 2006-509, p. 1153, §1; Act 2016-191, §1.)...

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27-31C-8
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 of each policy, in no less than fourteen-point bold type: "NOTICE
This policy is issued by a captive insurance company which is not subject to all of the insurance
laws and regulations of the State of Alabama. Insurance solvency guaranty funds are not available
for a captive insurance company." (b) An Alabama Coastal Captive Insurance Company shall
include the following acknowledgement on each application form for insurance, as well as in
each policy, in no less than fourteen-point bold type and directly above the applicant's or
insured's signature: "I have read the notice contained in this application (or policy)
and understand that State of Alabama insurance insolvency guaranty funds are not available
for an Alabama Coastal Captive Insurance Company." (Act 2008-391, p. 742,...
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27-31C-9
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 company is capitalized adequately or properly reinsured or both, after giving
due consideration to the business plan, feasibility study, and pro formas, including the level
of risk to be retained by the coastal captive insurance company; (2) Proposed business plan
of the coastal captive insurance company provides for a reasonable and expected successful
operation and is not hazardous to any policyholder; (3) Proposed business plan, including
any contracts or agreements to which the coastal captive insurance company is a party, and
the intended operation of the coastal captive insurance company comply with this chapter and
with any other applicable provisions of this title; and (4) Proposed business plan and intended
operation of the coastal captive insurance company satisfy the...
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27-31B-11
Section 27-31B-11 Grounds and procedures for suspension or revocation of license. (a) The license
of a captive insurance company to do an insurance business in this state may be suspended
or revoked by the commissioner for any of the following reasons: (1) Insolvency or impairment
of capital or surplus. (2) Failure to meet the requirements of Section 27-31B-6. (3) Refusal
or failure to submit an annual report, as required by Section 27-31B-9, or any other report
or statement required by law or by lawful order of the commissioner. (4) Failure to comply
with its own charter, bylaws, or other organizational document. (5) Failure to submit to examination
or any legal obligation relative thereto, as required by Section 27-31B-10. (6) Refusal or
failure to pay the cost of examination, as required by Section 27-31B-10. (7) Use of methods
that, although not otherwise specifically prohibited by law, nevertheless render its operation
detrimental or its condition unsound with respect to the...
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27-31C-6
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 that are determined to be inappropriate given the nature of the risks to be
insured and the intent of this chapter. (Act 2008-391, p. 742, §2.)...
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27-31B-5
Section 27-31B-5 Names of companies. No captive insurance company shall adopt a name that is
the same, deceptively similar, or likely to be confused with or mistaken for any other existing
business name registered in the State of Alabama. (Act 2006-509, p. 1153, §1.)...
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27-31C-7
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 or examining an Alabama Coastal Captive Insurance Company
and do not extend to reports submitted by an Alabama Coastal Captive Insurance Company. All
work papers, recorded information, documents, and their copies produced by, obtained by, or
disclosed to the commissioner, his or her designee, or other persons made under this chapter
must be given confidential treatment as provided in Sections 27-31-3(4), 27-31B-9(b), and
27-31B-10. (Act 2008-391, p. 742, §2.)...
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