Ala. Code § 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.