There is hereby appropriated from the Treasury the sum of $100,000.00 to be available only in case the loss by fire or tornado in any year shall exceed the premiums collected under the provisions of this chapter, and then only in such amount as may be required in addition to the amount of funds on deposit in the State Insurance Fund at the time of said loss for the payment thereof, less the amounts set aside in this chapter for the purpose of administration of the provisions of this chapter.
The first surplus next thereafter accruing to such fund shall be used to reimburse the Treasury for any amount which may have been drawn therefrom under this appropriation.
Structure Code of Alabama
Chapter 15 - State Insurance Fund.
Section 41-15-1 - Creation; Purpose.
Section 41-15-3 - Survey and Appraisal of Property.
Section 41-15-5 - Basis Upon Which Premiums Charged Generally; Reinsurance.
Section 41-15-6 - Payment of Premiums Generally.
Section 41-15-11 - Limitations Upon Expenditure of Funds; Employees Subject to Merit System.
Section 41-15-12 - Appropriation for Payment of Excess Fire or Tornado Losses; Reimbursement.
Section 41-15-13 - Appropriation of Funds Received in Payment for Loss to Property by Fire, Etc.