Statutes, codes, and regulations
Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-063 - MINIMUM SURPLUS REQUIRED TO ISSUE POLICIES OF INSURANCE
Section 482-1-063-.03 - Minimum Surplus Denotes Hazardous Operation

Ala. Admin. Code r. 482-1-063-.03

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Current through Register Vol. 43, No. 1, October 31, 2024
Section 482-1-063-.03 - Minimum Surplus Denotes Hazardous Operation

A determination that an insurer's surplus is below the minimum set forth in Rule 482-1-063-.02(1) above will also be considered evidence that the insurer is in unsound condition or is in such condition as to render its further transaction of insurance in the state hazardous to its policyholders or to the public under the provisions of Section 27-3-20, Code of Ala. 1975 above.

Author: Commissioner of Insurance

Ala. Admin. Code r. 482-1-063-.03

New Rule: March 24, 1977; effective April 3, 1977. Revised: December 22, 2004; effective January 1, 2005. Filed with LRS December 22, 2004. Rule is not subject to the Alabama Administrative Procedure Act.

Statutory Authority:Code of Ala. 1975, § 27-2-17.