The minimum capital required to form and organize a new domestic stock life insurance company shall be $1,000,000.00, and in addition thereto the minimum surplus to form such a company shall be $1,000,000.00.
Ala. Code § 27-3-9
Minimum Capital and Surplus for New Domestic Stock Life Insurance Company.
(Acts 1973, No. 643, p. 953.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.