Ala. Admin. Code r. 482-1-066-.01

Current through Register Vol. 43, No. 02, November 27, 2024

Section 482-1-066-.01 - Purpose

This chapter is intended to prescribe procedures to be used by insurers in handling unclaimed funds which fall under the unclaimed and abandoned property laws of Alabama. Many times in the past, insurers took into surplus those funds which may be due and owing, but because of inability to locate the owner, remain unclaimed.

New Rule: June 1, 1979, effective June 11, 1979. Revised: Filed December 19, 2007; effective January 1, 2008. Filed with LRS December 19, 2007. Rule is not subject to the Alabama Administrative Procedure Act.

Author: Commissioner of Insurance

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