Ala. Admin. Code r. 482-1-066-.04

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

Section 482-1-066-.04 - Unclaimed Funds Shall Be Treated As A Liability

All unclaimed funds in the possession, or under the control of an insurer shall, at all times, be maintained as a liability on the books of the insurer. This requirement shall remain in effect until the funds are claimed or transferred to the custody of the State of Alabama under the provisions of the Uniform Disposition of Unclaimed Property Act.

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.