The circuit court having jurisdiction over a receivership for liquidation or rehabilitation pursuant to the insurance laws of this state may distinguish between classes of policyholders or beneficiaries and establish priorities for each such class for payment of claims, sharing in the assets remaining or for reinsurance purposes. In establishing priorities among classes of policyholders and beneficiaries, death claims payable on life insurance contracts, cash surrenders payable, annuity holders, paid up policies, single premium policies, and other such classifications may be used by the court in establishing priorities for payment of claims or for reinsurance of policies.
Structure Code of Alabama
Chapter 32 - Rehabilitation, Reorganization, Conservation, and Liquidation of Insurers.
Section 27-32-1 - Definitions.
Section 27-32-2 - Purpose of Chapter; Construction Thereof.
Section 27-32-3 - Delinquency Proceedings - Jurisdiction; Venue; Appeal.
Section 27-32-4 - Delinquency Proceedings - Commencement; Grant or Denial of Application.
Section 27-32-5 - Injunctions and Restraining Orders.
Section 27-32-6 - Grounds - Rehabilitation of Domestic Insurers.
Section 27-32-7 - Grounds - Liquidation of Domestic or Alien Insurers.
Section 27-32-8 - Grounds - Conservation of Assets - Foreign Insurers.
Section 27-32-9 - Grounds - Conservation of Assets - Alien Insurers.
Section 27-32-10 - Grounds - Ancillary Liquidation of Foreign Insurers.
Section 27-32-11 - Orders - Rehabilitation of Domestic Insurers.
Section 27-32-12 - Orders - Liquidation - Domestic Insurers.
Section 27-32-13 - Orders - Liquidation - Alien Insurers.
Section 27-32-14 - Conservation or Liquidation of Property.
Section 27-32-15 - Conduct of Delinquency Proceedings - Domestic and Alien Insurers.
Section 27-32-16 - Conduct of Delinquency Proceedings - Foreign Insurers.
Section 27-32-17 - Claims in Delinquency Proceedings - Nonresidents Against Domestic Insurers.
Section 27-32-18 - Claims in Delinquency Proceedings - Residents Against Foreign Insurers.
Section 27-32-19 - Claims in Delinquency Proceedings - Form; Time; Notice and Hearing; Order.
Section 27-32-20 - Claims in Delinquency Proceedings - Priorities.
Section 27-32-21 - Attachment, Garnishment, and Execution.
Section 27-32-22 - Uniform Insurers Liquidation Act.
Section 27-32-23 - Deposit of Moneys Collected.
Section 27-32-24 - Exemption of Commissioner From Fees.
Section 27-32-25 - Loans to Facilitate Rehabilitation, etc., of Insurer.
Section 27-32-26 - Fixation of Rights and Liabilities on Liquidation of Insurer.
Section 27-32-27 - Voidable Transfers and Liens.
Section 27-32-28 - Priority of Compensation Owing Employees of Insurer.
Section 27-32-29 - Setoff of Credits and Debts.
Section 27-32-30 - Claims Upon Liquidation of Insurer - Allowance.
Section 27-32-31 - Claims Upon Liquidation of Insurer - Time to File.
Section 27-32-32 - Assessments - Commissioner's Report.
Section 27-32-33 - Assessments - Levy.
Section 27-32-34 - Assessments - Order to Pay - Generally.
Section 27-32-35 - Assessments - Order to Pay - Publication and Service.
Section 27-32-36 - Assessments - Order to Pay - Judgment.
Section 27-32-37 - Priority of Claims of Policyholders and Beneficiaries - Established.
Section 27-32-38 - Priority of Claims of Policyholders and Beneficiaries - Payment of Claims.
Section 27-32-39 - Priority of Claims of Policyholders and Beneficiaries - Reinsuring of Policies.
Section 27-32-41 - Priority of Claims of Policyholders and Beneficiaries - Liability of Receiver.