Alabama § 27-31-13 Action on Bond or Deposit in Lieu Thereof

Alabama Statutes

§ 27-31-13 — Action on Bond or Deposit in Lieu Thereof

Alabama § 27-31-13

Title 27Insurance

Ch. 31Reciprocal Insurers

This text of Alabama § 27-31-13 (Action on Bond or Deposit in Lieu Thereof) 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 § 27-31-13 (2026).

Text

Action on the attorney’s bond or to recover against any such deposit made in lieu thereof may be brought at any time by one or more subscribers suffering loss through a violation of its conditions, or by a receiver or liquidator of the insurer. Amounts recovered on the bond shall be deposited in, and become part of, the insurer’s funds. The total aggregate liability of the surety shall be limited to the amount of the penalty of such bond.

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

Action on the attorney’s bond or to recover against any such deposit made in lieu thereof may be brought at any time by one or more subscribers suffering loss through a violation of its conditions, or by a receiver or liquidator of the insurer. Amounts recovered on the bond shall be deposited in, and become part of, the insurer’s funds. The total aggregate liability of the surety shall be limited to the amount of the penalty of such bond.