Ala. Admin. Code r. 535-X-15-.02

Current through Register Vol. 43, No. 1, October 31, 2024

Section 535-X-15-.02 - Definitions

(1) General Liability Insurance - A form of insurance that indemnifies against liability on account of injury to the person or property of another.

(2) Surety Bond - A type of bond which protects against loss due to the inability or refusal of an obligor to perform his/her contract.

Author: Jim Sloan

Ala. Admin. Code r. 535-X-15-.02

New Rule: Filed July 27, 2000; effective August 31, 2000; operative January 1, 2001.

Statutory Authority:Code of Ala. 1975, § 24-6-4.