Alabama § 27-2-54 Appointment of Chief as Receiver - Existing Receiverships

Alabama Statutes

§ 27-2-54 — Appointment of Chief as Receiver - Existing Receiverships

Alabama § 27-2-54

Title 27Insurance

Ch. 2Department and Commissioner of Insurance

Art. 2Receivership Division

This text of Alabama § 27-2-54 (Appointment of Chief as Receiver - Existing Receiverships) 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 § 27-2-54 (2026).

Text

The Commissioner of Insurance, as receiver in any existing receivership, may petition the proper receivership court to name as receiver thereof the Chief of the Receivership Division as provided for in this article, and upon making an accounting of the assets of such receivership by the commissioner, the court shall so change receivers or ancillary receivers by releasing and discharging the commissioner from such duty and responsibility and shall name the Chief of the Receivership Division as receiver or ancillary receiver.

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The Commissioner of Insurance, as receiver in any existing receivership, may petition the proper receivership court to name as receiver thereof the Chief of the Receivership Division as provided for in this article, and upon making an accounting of the assets of such receivership by the commissioner, the court shall so change receivers or ancillary receivers by releasing and discharging the commissioner from such duty and responsibility and shall name the Chief of the Receivership Division as receiver or ancillary receiver.