Alabama § 27-16-8 Policy Provisions - Dividends

Alabama Statutes

§ 27-16-8 — Policy Provisions - Dividends

Alabama § 27-16-8

Title 27Insurance

Ch. 16Industrial Life Insurance

This text of Alabama § 27-16-8 (Policy Provisions - Dividends) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 27-16-8 (2026).

Text

If a participating policy, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the policy; except, that, at the option of the insurer, such participation may be deferred to the end of the fifth policy year. This provision shall not prohibit the payment of additional dividends on default of payment of premiums or termination of the policy.

Free access — add to your briefcase to read the full text and ask questions with AI

If a participating policy, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the policy; except, that, at the option of the insurer, such participation may be deferred to the end of the fifth policy year. This provision shall not prohibit the payment of additional dividends on default of payment of premiums or termination of the policy.