Code of Alabama
Title 27 - Insurance.
Chapter 40 - Insurance Premium Finance Companies.

Section 27-40-1 - Definitions. - For the purposes of this chapter, the following words and...

Section 27-40-2 - Exemptions From Chapter. - The provisions of this chapter shall not apply with respect...

Section 27-40-3 - Licenses - Required; Fees; Information to Be Furnished Commissioner. - (a) No person shall engage in the business of financing...

Section 27-40-4 - Licenses - Investigation and Qualifications of Applicant; Issuance. - (a) Upon the filing of an application and the payment...

Section 27-40-5 - Licenses - Suspension or Revocation. - (a) The commissioner may revoke or suspend the license of...

Section 27-40-6 - Books and Records. - (a) Every licensee shall maintain records of its premium finance...

Section 27-40-7 - Promulgation and Enforcement of Rules and Regulations. - The commissioner shall have authority to make and enforce such...

Section 27-40-8 - Contents and Style of Premium Finance Agreement. - (a) The contents and style of the premium finance agreement...

Section 27-40-9 - Service Charges; Prepayment of Obligation. - (a) For the purpose of this section, "consumer insurance premium...

Section 27-40-10 - Delinquency and Cancellation Charges. - A premium finance agreement may provide for the payment by...

Section 27-40-11 - Procedure for Cancellation of Insurance Contract Upon Default. - (a) When a premium finance agreement contains a power of...

Section 27-40-12 - Return of Gross Unearned Premiums Upon Cancellation of Contract. - (a) Whenever a financed insurance contract is cancelled, the insurer...

Section 27-40-13 - Filing of Agreement. - No filing of the premium finance agreement shall be necessary...

Section 27-40-14 - Exclusive Jurisdiction of Department of Insurance. - When a premium finance company has complied with the licensing...

Section 27-40-15 - Premium Financed to Be Sent to Insurance Company, Agent, or Surplus Lines Broker; Issuance of Drafts, etc.; Duties With Respect to Cancellation. - (a) The amount of premium financed, more specifically referred to...

Section 27-40-16 - Payment of Rebates or Inducements Prohibited; Purchase of Premium Finance Agreement. - No premium finance company and no employee of such a...

Section 27-40-17 - Notification of Existence of Premium Finance Agreement. - Any premium finance company which enters into a premium finance...

Section 27-40-18 - Delivery of Copy of Premium Finance Agreement to Insured. - Prior to the due date of the first installment payable...