Alabama § 27-2-55 Assumption by Receiver of Certain Former Powers, Duties, Etc., of Commissioner

Alabama Statutes

§ 27-2-55 — Assumption by Receiver of Certain Former Powers, Duties, Etc., of Commissioner

Alabama·Title 27 Insurance·Ch. 2 Department and Commissioner of Insurance·Art. 2 Receivership Division

All duties, rights, power, authority, and responsibility placed upon the Commissioner of Insurance by Sections 27-32-15 through 27-32-36, or by future law, as receiver of an insurer shall be vested in and assumed by the receiver appointed pursuant to this article, however, nothing herein shall divest the commissioner of the authority to examine insurers for solvency and to institute delinquency proceedings pursuant to law.

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All duties, rights, power, authority, and responsibility placed upon the Commissioner of Insurance by Sections 27-32-15 through 27-32-36, or by future law, as receiver of an insurer shall be vested in and assumed by the receiver appointed pursuant to this article, however, nothing herein shall divest the commissioner of the authority to examine insurers for solvency and to institute delinquency proceedings pursuant to law.

Alabama § 27-2-55 (Assumption by Receiver of Certain Former Powers, Duties, Etc., of Commissioner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.