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<TITLE>DIRECT GENERAL CORPORATION - FORM S-8</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2">As filed with the Securities and
Exchange Commission on August&nbsp;21, 2003</FONT>

<P align="right"><FONT size="2">Registration No.&nbsp;333-______________</FONT>

<P align="center"><FONT size="4">SECURITIES AND EXCHANGE COMMISSION</FONT>

<DIV align="center"><FONT size="3">Washington, D.C. 20549</FONT></DIV>

<P align="center"><FONT size="5"><B>FORM S-8</B></FONT>

<DIV align="center"><FONT size="2">REGISTRATION STATEMENT<BR>
Under<BR>
THE SECURITIES ACT OF 1933</FONT></DIV>

<P align="center"><FONT size="6"><B>DIRECT GENERAL CORPORATION</B></FONT>

<DIV align="center"><FONT size="2"><I>(Exact name of registrant as specified in its charter)</I></FONT></DIV>

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    <TD align="center" valign="top"><FONT size="2"><B>TENNESSEE</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
62-1564496</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2"><I>(State of Incorporation)</I></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<I>(I.R.S. Employer Identification No.)</I></FONT></TD>
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<P align="center"><FONT size="2">1281 Murfreesboro Road, 5-01<BR>
Nashville, Tennessee 37217<BR>
<I>(Address of principal executive offices)</I></FONT>

<P align="center"><FONT size="2"><B>1996 Employee Stock Incentive Plan<BR>
2003 Equity Incentive Plan</B><BR>
<I>(Full Title of the Plans)</I></FONT>

<P align="center"><FONT size="2"><B>WILLIAM C. ADAIR, JR.</B><BR>
Chairman, Chief Executive Officer and President<BR>
Direct General Corporation<BR>
2813 Business Park Drive, Bldg. I<BR>
Memphis, Tennessee 38118<BR>
(615)399-0600<BR>
<I>(Name, address and telephone number of agent for service)</I></FONT>

<P align="center"><FONT size="2"><I>(with copies to:)</I></FONT>

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    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
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    <TD valign="top"><FONT size="2">Matthew S. Heiter, Esq.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Ronald F. Wilson, Esq.</FONT></TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">Baker, Donelson, Bearman, Caldwell &#038; Berkowitz, PC</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
General Counsel</FONT></TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">165 Madison Avenue, Suite&nbsp;2000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
1281 Murfreesboro Road, 5-01</FONT></TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">Memphis, Tennessee 38103</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Nashville, Tennessee 37217</FONT></TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">(901) 526-2000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
(615) 399-4700</FONT></TD>
</TR>
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<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B></FONT>

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    <TD width="24%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
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<TR valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
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    <TD nowrap align="center"><FONT size="1"><B>Title of Securities</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount to be</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price Per</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>to be Registered</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registered(1)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Share</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Price</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration Fee</B></FONT></TD>
</TR>
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    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
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<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Common Stock, no
par value per
share:</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">To be issued under
the 1996 Employee
Stock Incentive
Plan (the &#147;1996
Plan&#148;)</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">702,000 shares(2)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">25.28</FONT></TD>
    <TD nowrap><FONT size="2">(3)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">17,746,560.00</FONT></TD>
    <TD nowrap><FONT size="2">(3)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">1,435.70</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">To be issued under
the 2003 Equity
Incentive Plan (the
&#147;2003 Plan&#148;)</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">1,680,000 shares(4)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">25.28</FONT></TD>
    <TD nowrap><FONT size="2">(5)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">42,470,400.00</FONT></TD>
    <TD nowrap><FONT size="2">(5)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">3,435.86</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
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<P align="center"><FONT size="2">&nbsp;</FONT>
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<P>
<HR size="1" width="18%" align="left" noshade>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">This Registration Statement shall also cover any additional shares of the
Registrant&#146;s Common Stock that become issuable under the 2003 Plan or the
1996 Plan by reason of any dividend, stock split, recapitalization or
other similar transactions effected without receipt of consideration that
increases the number of shares of the Registrant&#146;s Common Stock
outstanding.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">This figure represents the number of shares of common stock of the
Registrant (the &#147;Common Stock&#148;) issued and registered hereby under the
Registrant&#146;s 1996 Plan. The maximum number of shares which may be sold
upon exercise of options granted under the 1996 Plan are subject to
adjustment in accordance with certain anti-dilution and other provisions
of such Plan.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(3)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of determining the amount of the
registration fee. Such estimate has been calculated in accordance with
Rules&nbsp;457(c) and 457(h) under the Securities Act of 1933 (the &#147;1933 Act&#148;),
as amended, and is based upon the average high and low sales prices of the
Registrant&#146;s Common Stock as reported on the National Market of the Nasdaq
Stock Market on August&nbsp;18, 2003.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(4)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">This figure represents the number of shares of Common Stock authorized
and registered hereby under the Registrant&#146;s 2003 Plan. The maximum
number of shares which may be sold upon exercise of options granted under
the 2003 Plan are subject to adjustment in accordance with certain
anti-dilution and other provisions of such Plan.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(5)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of determining the amount of the
registration fee. Such estimate has been calculated in accordance with
Rules&nbsp;457(c) and 457(h) under the 1933 Act,
as amended, and is based upon the average high and low sales prices of the
Registrant&#146;s Common Stock as reported on the National Market of the Nasdaq
Stock Market on August&nbsp;18, 2003.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Rule&nbsp;462 of the 1933 Act, the Registration Statement on Form
S&#150;8 shall be effective upon filing with the Securities and
Exchange Commission.
</FONT>
<P align="center"><FONT size="2">2</FONT>
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<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PART II</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">POWER OF ATTORNEY</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="g84662exv5.txt">EX-5 OPINION OF BAKER, DONELSON</A></TD></TR>
<TR><TD colspan="9"><A HREF="g84662exv23w2.txt">EX-23.2 CONSENT OF ERNST & YOUNG LLP</A></TD></TR>
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<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>PART I</B></FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part I will be
separately sent or given to employees as specified by
Rule&nbsp;428(b)(1) of the 1933 Act. In accordance with the
instructions to Part I of Form&nbsp;S-8, such documents will not be filed with the
Securities and Exchange Commission (the &#147;Commission&#148;) either as part of this
Registration Statement or as prospectuses or prospectus supplements pursuant to
Rule&nbsp;424 of the 1933 Act. These documents and the documents incorporated
by reference pursuant to Item&nbsp;3 of Part II of this Registration Statement,
taken together, constitute the prospectus that meets the requirements of
Section&nbsp;10(a) of the 1933 Act.
</FONT>
<!-- link1 "PART II" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="center"><FONT size="2"><B>PART II</B></FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT>

<P align="left"><FONT size="2"><B>Item&nbsp;3. INCORPORATION OF DOCUMENTS BY REFERENCE</B></FONT>

<P><FONT size="2">The following documents are hereby incorporated by reference in this
Registration Statement:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">(a)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">The Registrant&#146;s prospectus filed with the Commission pursuant to Rule
424(b) on August&nbsp;12, 2003, File No.&nbsp;333-105505.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="1%" align="left" nowrap><FONT size="2">(b)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">The description of the Registrant&#146;s Common Stock contained in the
Registration Statement on Form&nbsp;8-A filed with the Commission on August&nbsp;8,
2003, File No.&nbsp;000-50360.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c),
14 and 15(d) of the Securities Exchange Act of 1934 (the &#147;1934
Act&#148;), subsequent to the date of this Registration
Statement and prior to the filing of a post-effective amendment which indicates
that all securities offered have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference herein
and to be a part thereof from the date of filing of such documents. Any
statement contained in a document incorporated or deemed to be incorporated by
reference herein and to be a part hereof shall be deemed to be modified or
superseded for purposes of this Registration Statement to the extent that a
statement contained herein or in any other subsequently filed document which
also is or is deemed to be incorporated by reference herein modifies or
superseded such statement. Any such statement so modified or superseded shall
not be deemed, except to modified or superseded to constitute a part of this
Registration Statement.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;4. DESCRIPTION OF SECURITIES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No response is required to this item.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;5. INTERESTS OF NAMED EXPERTS AND COUNSEL</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No response is required to this item.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Tennessee Business Corporation Act (TBCA)&nbsp;sets forth in Section
48-18-501 <I>et seq. </I>the rules governing indemnification of directors, officers,
employees and agents of a corporation against liability incurred in the course
of their official capacities. A proceeding is a formal or informal, threatened,
pending or completed action, suit or proceeding, whether civil, criminal,
administrative, or investigative. Section&nbsp;48-18-502 of the TBCA provides that a
corporation may indemnify
</FONT>
<P align="center"><FONT size="2">3</FONT>
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<P><FONT size="2">any director against liability incurred in connection with a proceeding if (i)
the director acted in good faith, (ii)&nbsp;the director reasonably believed, in the
case of conduct in his or her official capacity with the corporation, that such
conduct was in the corporation&#146;s best interest, or, in all other cases, that
his or her conduct was not opposed to the best interests of the corporation and
(iii)&nbsp;in connection with any criminal proceeding, the director had no
reasonable cause to believe that his or her conduct was unlawful. In actions
brought by or in the right of the corporation, however, the TBCA provides that
no indemnification may be made if the director or officer is adjudged to be
liable to the corporation. Similarly, the TBCA prohibits indemnification in
connection with any proceeding charging improper personal benefit to a
director, if such director is adjudged liable on the basis that a personal
benefit was improperly received. Unless the corporate charter provides
otherwise, in cases where the director is wholly successful, on the merits or
otherwise, in the defense of any proceeding instigated because of his or her
status as a director of a corporation, Section&nbsp;48-18-503 of the TBCA mandates
that the corporation indemnify the director against reasonable expenses
incurred in the proceeding. Unless the corporate charter provides otherwise,
Section&nbsp;48-18-505 of the TBCA allows a court of competent jurisdiction, upon
application, to order that a director or officer be indemnified for reasonable
expenses if, in consideration of all relevant circumstances, the court
determines that such individual is fairly and reasonably entitled to
indemnification, whether or not the standard of conduct set forth above was
met. Unless the corporate charter provides otherwise, Section&nbsp;48-18-507 of the
TBCA entitles officers, employees, and agents who are not directors to the same
degree of indemnification afforded to directors.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our charter and bylaws provide that we shall indemnify and advance
expenses to our directors and officers to the fullest extent authorized by
Tennessee law. Additionally, we may indemnify and advance expenses to any of
our employees or agents to the same extent that we indemnify our directors or
officers if our directors determine such indemnification is in our best
interest.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;7. EXEMPTION FROM REGISTRATION CLAIMED</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No response is required to this item.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;8. EXHIBITS</B></FONT>

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<TABLE cellspacing="0" border="0" cellpadding="0" width="90%">
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Exhibit Number</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="left"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">4.1*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Second Amended and Restated Charter of Direct General Corporation</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">4.2**</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Amended and Restated Bylaws of Direct General Corporation</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Opinion and Consent of Baker, Donelson, Bearman, Caldwell &#38;
Berkowitz, PC</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.1*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Direct General Corporation 1996 Employee Stock Incentive Plan</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.2*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Direct General Corporation 2003 Equity Incentive Plan</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of Baker, Donelson, Bearman, Caldwell &#38; Berkowitz, PC (contained in Exhibit&nbsp;5)</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of Ernst &#038; Young LLP, Independent Auditors of Direct General Corporation</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Power of Attorney (Included on signature page)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P>
<HR size="1" width="18%" align="left" noshade>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">*</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Filed with Registration Statement on Form&nbsp;S-1 (Registration No.&nbsp;333-105505),
dated May&nbsp;23, 2003.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">**</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Filed with Amendment No.&nbsp;4 to the Registration Statement on Form&nbsp;S-1
(Registration No.&nbsp;333-105505), dated August&nbsp;8, 2003.</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2"><B>Item&nbsp;9. UNDERTAKINGS</B></FONT>

<P><FONT size="2">(a)&nbsp; The Registrant hereby undertakes:
</FONT>
<P align="center"><FONT size="2">4</FONT>
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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp; To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To
include any prospectus required by Section 10(a)(3) of the 1933 Act;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;To reflect in the prospectus any facts or events arising after the
effective date of the Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the Registration Statement.
Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule&nbsp;424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148;
table in the effective Registration Statement;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the plan of
distribution not previously disclosed in the Registration Statement or any
material change to such information in the Registration Statement;</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
Registration Statement is on Form&nbsp;S-3, Form&nbsp;S-8 or Form&nbsp;F-3 and the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the registrant pursuant to
Section 13 or Section 15(d) of the 1934 Act that are
incorporated by reference in the Registration Statement.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp; That, for the purpose of determining any liability under the 1933
Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp; To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination
of the offering.
</FONT>
<P><FONT size="2">(b)&nbsp; The Registrant hereby undertakes that, for the purposes of determining any
liability under the 1933 Act, each filing of the Registrant&#146;s annual report
pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the 1934 Act (and, where
applicable, each filing of an employee benefit plan&#146;s annual report pursuant to
Section&nbsp;15(d) of the 1934 Act) that is incorporated by reference in the
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
</FONT>
<P><FONT size="2">(c)&nbsp; Insofar as indemnification for
liabilities arising under the 1933 Act may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Commission such indemnification is
against public policy as expressed in the 1933 Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the 1933 Act and will be governed by the
final adjudication of such issue.
</FONT>
<P align="center"><FONT size="2"><B>&#091;SIGNATURE PAGE TO FOLLOW&#093;</B></FONT>

<P align="center"><FONT size="2">5</FONT>
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<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the
requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Nashville, State of Tennessee, on the 21st day of
August, 2003.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="46%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left" valign="top"><FONT size="2"><B>DIRECT GENERAL CORPORATION</B></FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2"></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ William C. Adair, Jr.<BR>
</FONT><HR size="1" noshade><FONT size="2">
William C. Adair, Jr., Chairman of the Board,<BR>
Chief Executive Officer and President</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">6</FONT>
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<!-- link1 "POWER OF ATTORNEY" -->
<DIV align="left"><A NAME="003"></A></DIV>
<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>KNOW ALL MEN BY THESE PRESENTS</B>, that each person whose signature appears
below constitutes and appoints William C. Adair, Jr., Jacqueline C. Adair,
Tammy R. Adair, William J. Harter, and Ronald F. Wilson his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign
any and all amendments to this Registration Statement, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with
the Securities and Exchange Commission, granting unto said attorneys-in-fact
and agents, and each of them, full power and authority to do and perform each
and every act and thing requisite and necessary fully to all intents and
purposes as he might or could do in person thereby ratifying and confirming all
that said attorneys-in-fact and agents or any of them, or their or his
substitutes or substitute, may lawfully do or cause to be done by virtue
hereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the date indicated.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="37%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>NAME</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>TITLE</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>DATE</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ William C. Adair, Jr.<BR>
</FONT><HR size="1" noshade><FONT size="2">
William C. Adair, Jr.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Chairman of the Board, Chief Executive Officer,<BR>
and President (principal executive officer)
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">August 21, 2003</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Barry D. Elkins<BR>
</FONT><HR size="1" noshade><FONT size="2">
Barry D. Elkins</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Senior Vice President and Chief Financial Officer<BR>
(principal financial officer and principal<BR>
accounting officer)
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">August 21, 2003</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Jacqueline C. Adair<BR>
</FONT><HR size="1" noshade><FONT size="2">
Jacqueline C. Adair</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Executive Vice President, Chief Operating Officer and Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">August 21, 2003</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Fred H. Medling<BR>
</FONT><HR size="1" noshade><FONT size="2">
Fred H. Medling</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">August 21, 2003</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Raymond L. Osterhout<BR>
</FONT><HR size="1" noshade><FONT size="2">
Raymond L. Osterhout</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">August 21, 2003</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Stephen L. Rohde<BR>
</FONT><HR size="1" noshade><FONT size="2">
Stephen L. Rohde</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">August 21, 2003</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">7</FONT>
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<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="004"></A></DIV>
<P align="center"><FONT size="2">EXHIBIT INDEX</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%">
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="81%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Exhibit Number</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="left"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">4.1*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Second Amended and Restated Charter of Direct General Corporation</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">4.2**</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Amended and Restated Bylaws of Direct General Corporation</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Opinion and Consent of Baker, Donelson, Bearman, Caldwell &#38;
Berkowitz, PC</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.1*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Direct General Corporation 1996 Employee Stock Incentive Plan</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">10.2*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Direct General Corporation 2003 Equity Incentive Plan</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of Baker, Donelson, Bearman, Caldwell &#38; Berkowitz, PC (contained in Exhibit&nbsp;5)</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of Ernst &#038; Young LLP, Independent Auditors of Direct General Corporation</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Power of Attorney (Included on signature page)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P>
<HR size="1" width="18%" align="left" noshade>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2"><B>*</B></FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Filed with Registration Statement on Form&nbsp;S-1 (Registration No.&nbsp;333-105505)
dated May&nbsp;23, 2003.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">**</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Filed with Amendment No.&nbsp;4 to the Registration Statement on Form&nbsp;S-1
(Registration No.&nbsp;333-105505), dated August&nbsp;8, 2003.</FONT></TD>
</TR>
</TABLE>

<P align="center"><FONT size="2"></FONT>


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DIRECT GENERAL CORPORATION - FORM S-8
Table of Contents
As filed with the Securities and
Exchange Commission on August 21, 2003
Registration No. 333-______________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
DIRECT GENERAL CORPORATION
(Exact name of registrant as specified in its charter)
TENNESSEE
62-1564496
(State of Incorporation)
(I.R.S. Employer Identification No.)
1281 Murfreesboro Road, 5-01
Nashville, Tennessee 37217
(Address of principal executive offices)
1996 Employee Stock Incentive Plan
2003 Equity Incentive Plan
(Full Title of the Plans)
WILLIAM C. ADAIR, JR.
Chairman, Chief Executive Officer and President
Direct General Corporation
2813 Business Park Drive, Bldg. I
Memphis, Tennessee 38118
(615)399-0600
(Name, address and telephone number of agent for service)
(with copies to:)
Matthew S. Heiter, Esq.
Ronald F. Wilson, Esq.
Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
General Counsel
165 Madison Avenue, Suite 2000
1281 Murfreesboro Road, 5-01
Memphis, Tennessee 38103
Nashville, Tennessee 37217
(901) 526-2000
(615) 399-4700
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Title of Securities
Amount to be
Offering Price Per
Aggregate Offering
Amount of
to be Registered
Registered(1)
Share
Price
Registration Fee
Common Stock, no
par value per
share:
To be issued under
the 1996 Employee
Stock Incentive
Plan (the "1996
Plan")
702,000 shares(2)
$
25.28
(3)
$
17,746,560.00
(3)
$
1,435.70
To be issued under
the 2003 Equity
Incentive Plan (the
"2003 Plan")
1,680,000 shares(4)
$
25.28
(5)
$
42,470,400.00
(5)
$
3,435.86
Table of Contents
(1)
This Registration Statement shall also cover any additional shares of the
Registrant's Common Stock that become issuable under the 2003 Plan or the
1996 Plan by reason of any dividend, stock split, recapitalization or
other similar transactions effected without receipt of consideration that
increases the number of shares of the Registrant's Common Stock
outstanding.
(2)
This figure represents the number of shares of common stock of the
Registrant (the "Common Stock") issued and registered hereby under the
Registrant's 1996 Plan. The maximum number of shares which may be sold
upon exercise of options granted under the 1996 Plan are subject to
adjustment in accordance with certain anti-dilution and other provisions
of such Plan.
(3)
Estimated solely for the purpose of determining the amount of the
registration fee. Such estimate has been calculated in accordance with
Rules 457(c) and 457(h) under the Securities Act of 1933 (the "1933 Act"),
as amended, and is based upon the average high and low sales prices of the
Registrant's Common Stock as reported on the National Market of the Nasdaq
Stock Market on August 18, 2003.
(4)
This figure represents the number of shares of Common Stock authorized
and registered hereby under the Registrant's 2003 Plan. The maximum
number of shares which may be sold upon exercise of options granted under
the 2003 Plan are subject to adjustment in accordance with certain
anti-dilution and other provisions of such Plan.
(5)
Estimated solely for the purpose of determining the amount of the
registration fee. Such estimate has been calculated in accordance with
Rules 457(c) and 457(h) under the 1933 Act,
as amended, and is based upon the average high and low sales prices of the
Registrant's Common Stock as reported on the National Market of the Nasdaq
Stock Market on August 18, 2003.
Pursuant to Rule 462 of the 1933 Act, the Registration Statement on Form
S–8 shall be effective upon filing with the Securities and
Exchange Commission.
2
TABLE OF CONTENTS
PART I
PART II
SIGNATURES
POWER OF ATTORNEY
EXHIBIT INDEX
EX-5 OPINION OF BAKER, DONELSON
EX-23.2 CONSENT OF ERNST & YOUNG LLP
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part I will be
separately sent or given to employees as specified by
Rule 428(b)(1) of the 1933 Act. In accordance with the
instructions to Part I of Form S-8, such documents will not be filed with the
Securities and Exchange Commission (the "Commission") either as part of this
Registration Statement or as prospectuses or prospectus supplements pursuant to
Rule 424 of the 1933 Act. These documents and the documents incorporated
by reference pursuant to Item 3 of Part II of this Registration Statement,
taken together, constitute the prospectus that meets the requirements of
Section 10(a) of the 1933 Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. INCORPORATION OF DOCUMENTS BY REFERENCE
The following documents are hereby incorporated by reference in this
Registration Statement:
(a)
The Registrant's prospectus filed with the Commission pursuant to Rule
424(b) on August 12, 2003, File No. 333-105505.
(b)
The description of the Registrant's Common Stock contained in the
Registration Statement on Form 8-A filed with the Commission on August 8,
2003, File No. 000-50360.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Securities Exchange Act of 1934 (the "1934
Act"), subsequent to the date of this Registration
Statement and prior to the filing of a post-effective amendment which indicates
that all securities offered have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference herein
and to be a part thereof from the date of filing of such documents. Any
statement contained in a document incorporated or deemed to be incorporated by
reference herein and to be a part hereof shall be deemed to be modified or
superseded for purposes of this Registration Statement to the extent that a
statement contained herein or in any other subsequently filed document which
also is or is deemed to be incorporated by reference herein modifies or
superseded such statement. Any such statement so modified or superseded shall
not be deemed, except to modified or superseded to constitute a part of this
Registration Statement.
Item 4. DESCRIPTION OF SECURITIES
No response is required to this item.
Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
No response is required to this item.
Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
The Tennessee Business Corporation Act (TBCA) sets forth in Section
48-18-501
et seq.
the rules governing indemnification of directors, officers,
employees and agents of a corporation against liability incurred in the course
of their official capacities. A proceeding is a formal or informal, threatened,
pending or completed action, suit or proceeding, whether civil, criminal,
administrative, or investigative. Section 48-18-502 of the TBCA provides that a
corporation may indemnify
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any director against liability incurred in connection with a proceeding if (i)
the director acted in good faith, (ii) the director reasonably believed, in the
case of conduct in his or her official capacity with the corporation, that such
conduct was in the corporation's best interest, or, in all other cases, that
his or her conduct was not opposed to the best interests of the corporation and
(iii) in connection with any criminal proceeding, the director had no
reasonable cause to believe that his or her conduct was unlawful. In actions
brought by or in the right of the corporation, however, the TBCA provides that
no indemnification may be made if the director or officer is adjudged to be
liable to the corporation. Similarly, the TBCA prohibits indemnification in
connection with any proceeding charging improper personal benefit to a
director, if such director is adjudged liable on the basis that a personal
benefit was improperly received. Unless the corporate charter provides
otherwise, in cases where the director is wholly successful, on the merits or
otherwise, in the defense of any proceeding instigated because of his or her
status as a director of a corporation, Section 48-18-503 of the TBCA mandates
that the corporation indemnify the director against reasonable expenses
incurred in the proceeding. Unless the corporate charter provides otherwise,
Section 48-18-505 of the TBCA allows a court of competent jurisdiction, upon
application, to order that a director or officer be indemnified for reasonable
expenses if, in consideration of all relevant circumstances, the court
determines that such individual is fairly and reasonably entitled to
indemnification, whether or not the standard of conduct set forth above was
met. Unless the corporate charter provides otherwise, Section 48-18-507 of the
TBCA entitles officers, employees, and agents who are not directors to the same
degree of indemnification afforded to directors.
Our charter and bylaws provide that we shall indemnify and advance
expenses to our directors and officers to the fullest extent authorized by
Tennessee law. Additionally, we may indemnify and advance expenses to any of
our employees or agents to the same extent that we indemnify our directors or
officers if our directors determine such indemnification is in our best
interest.
Item 7. EXEMPTION FROM REGISTRATION CLAIMED
No response is required to this item.
Item 8. EXHIBITS
Exhibit Number
Description
4.1*
Second Amended and Restated Charter of Direct General Corporation
4.2**
Amended and Restated Bylaws of Direct General Corporation
5
Opinion and Consent of Baker, Donelson, Bearman, Caldwell &
Berkowitz, PC
10.1*
Direct General Corporation 1996 Employee Stock Incentive Plan
10.2*
Direct General Corporation 2003 Equity Incentive Plan
23.1
Consent of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC (contained in Exhibit 5)
23.2
Consent of Ernst & Young LLP, Independent Auditors of Direct General Corporation
24
Power of Attorney (Included on signature page)
*
Filed with Registration Statement on Form S-1 (Registration No. 333-105505),
dated May 23, 2003.
**
Filed with Amendment No. 4 to the Registration Statement on Form S-1
(Registration No. 333-105505), dated August 8, 2003.
Item 9. UNDERTAKINGS
(a)  The Registrant hereby undertakes:
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(1)  To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:
(i) To
include any prospectus required by Section 10(a)(3) of the 1933 Act;
(ii) To reflect in the prospectus any facts or events arising after the
effective date of the Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the Registration Statement.
Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the "Calculation of Registration Fee"
table in the effective Registration Statement;
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the Registration Statement or any
material change to such information in the Registration Statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
Registration Statement is on Form S-3, Form S-8 or Form F-3 and the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the registrant pursuant to
Section 13 or Section 15(d) of the 1934 Act that are
incorporated by reference in the Registration Statement.
(2)  That, for the purpose of determining any liability under the 1933
Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(3)  To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination
of the offering.
(b)  The Registrant hereby undertakes that, for the purposes of determining any
liability under the 1933 Act, each filing of the Registrant's annual report
pursuant to Section 13(a) or Section 15(d) of the 1934 Act (and, where
applicable, each filing of an employee benefit plan's annual report pursuant to
Section 15(d) of the 1934 Act) that is incorporated by reference in the
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
(c)  Insofar as indemnification for
liabilities arising under the 1933 Act may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Commission such indemnification is
against public policy as expressed in the 1933 Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the 1933 Act and will be governed by the
final adjudication of such issue.
[SIGNATURE PAGE TO FOLLOW]
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SIGNATURES
Pursuant to the
requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Nashville, State of Tennessee, on the 21st day of
August, 2003.
DIRECT GENERAL CORPORATION
By:
/s/ William C. Adair, Jr.
William C. Adair, Jr., Chairman of the Board,
Chief Executive Officer and President
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POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS
, that each person whose signature appears
below constitutes and appoints William C. Adair, Jr., Jacqueline C. Adair,
Tammy R. Adair, William J. Harter, and Ronald F. Wilson his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign
any and all amendments to this Registration Statement, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with
the Securities and Exchange Commission, granting unto said attorneys-in-fact
and agents, and each of them, full power and authority to do and perform each
and every act and thing requisite and necessary fully to all intents and
purposes as he might or could do in person thereby ratifying and confirming all
that said attorneys-in-fact and agents or any of them, or their or his
substitutes or substitute, may lawfully do or cause to be done by virtue
hereof.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the date indicated.
NAME
TITLE
DATE
/s/ William C. Adair, Jr.
William C. Adair, Jr.
Chairman of the Board, Chief Executive Officer,
and President (principal executive officer)
August 21, 2003
/s/ Barry D. Elkins
Barry D. Elkins
Senior Vice President and Chief Financial Officer
(principal financial officer and principal
accounting officer)
August 21, 2003
/s/ Jacqueline C. Adair
Jacqueline C. Adair
Executive Vice President, Chief Operating Officer and Director
August 21, 2003
/s/ Fred H. Medling
Fred H. Medling
Director
August 21, 2003
/s/ Raymond L. Osterhout
Raymond L. Osterhout
Director
August 21, 2003
/s/ Stephen L. Rohde
Stephen L. Rohde
Director
August 21, 2003
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EXHIBIT INDEX
Exhibit Number
Description
4.1*
Second Amended and Restated Charter of Direct General Corporation
4.2**
Amended and Restated Bylaws of Direct General Corporation
5
Opinion and Consent of Baker, Donelson, Bearman, Caldwell &
Berkowitz, PC
10.1*
Direct General Corporation 1996 Employee Stock Incentive Plan
10.2*
Direct General Corporation 2003 Equity Incentive Plan
23.1
Consent of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC (contained in Exhibit 5)
23.2
Consent of Ernst & Young LLP, Independent Auditors of Direct General Corporation
24
Power of Attorney (Included on signature page)
*
Filed with Registration Statement on Form S-1 (Registration No. 333-105505)
dated May 23, 2003.
**
Filed with Amendment No. 4 to the Registration Statement on Form S-1
(Registration No. 333-105505), dated August 8, 2003.