Code of Alabama
Title 27 - Insurance.
Chapter 44 - Life and Disability Insurance Guaranty Association.

Section 27-44-1 - Short Title. - This chapter shall be known and may be cited as...

Section 27-44-2 - Purpose of Chapter. - (a) The purpose of this chapter is to protect, subject...

Section 27-44-3 - Scope of Chapter. - (a) This chapter shall provide coverage for the policies and...

Section 27-44-4 - Construction of Chapter. - This chapter shall be liberally construed to effect the purpose...

Section 27-44-5 - Definitions. - As used in this chapter, the following terms shall have...

Section 27-44-6 - Creation of Association; Membership; Accounts; Supervision. - (a) There is created a nonprofit unincorporated legal entity to...

Section 27-44-7 - Board of Directors; Selection of Members; Vacancies; Organizational Meeting; Reimbursement for Expenses. - (a) The board of directors of the association shall consist...

Section 27-44-8 - Powers and Duties of Association. - (a) If a member insurer is an impaired insurer, the...

Section 27-44-9 - Assessments. - (a) For the purpose of providing the funds necessary to...

Section 27-44-10 - Submission of Plan of Operation and Amendments; Promulgation of Rules in Absence of Plan. - (a)(1) The association shall submit to the commissioner a plan...

Section 27-44-11 - Duties and Powers of Commissioner; Appeal and Review; Notification. - In addition to the duties and powers enumerated elsewhere in...

Section 27-44-12 - Duties of Commissioner and Board With Regard to Detection and Prevention of Insolvencies or Impairment. - To aid in the detection and prevention of insurer insolvencies...

Section 27-44-13 - Credits for Assessments Paid. - (a) A member insurer may offset against its premium tax...

Section 27-44-14 - Liability of Unpaid Assessments; Records of Negotiations and Meetings; Association Deemed Creditor of Impaired or Insolvent Insurer; Judicial Distribution of Ownership Rights of Insolvent Insurer; Recovery by Receiver of Certain Di... - (a) Nothing in this chapter shall be construed to reduce...

Section 27-44-15 - Examination and Regulation of Association; Annual Report. - The association shall be subject to examination and regulation by...

Section 27-44-16 - Tax Exemptions. - The association shall be exempt from payment of all fees...

Section 27-44-17 - Immunity Under Chapter. - There shall be no liability on the part of and...

Section 27-44-18 - Stay of Proceedings; Reopening Default Judgments. - All proceedings in which the insolvent insurer is a party...

Section 27-44-20 - Association, Policyholders, Beneficiaries, and Insureds to Have Preferred Creditor Status. - Upon the issuance of a proper court order placing a...

Section 27-44-21 - Immediate Access of Associations in This and Other States to Assets of Insolvent Insurer; Application to Court; Contents of Proposal; Notice. - (a) Within 120 days of a final determination of insolvency...