Alabama § 27-31-23 Levy of Assessments on Subscribers of Domestic Insurers - Time Limit

Alabama Statutes

§ 27-31-23 — Levy of Assessments on Subscribers of Domestic Insurers - Time Limit

Alabama·Title 27 Insurance·Ch. 31 Reciprocal Insurers

Every subscriber of a domestic reciprocal insurer having contingent liability shall be liable for and shall pay his share of, any assessment, as computed and limited in accordance with this chapter, if:

(1)While his policy is in force or within one year after its termination, he is notified by either the attorney or the commissioner of his intentions to levy such assessment; or

(2)An order to show cause why a receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while his policy is in force or within one year after its termination.

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Every subscriber of a domestic reciprocal insurer having contingent liability shall be liable for and shall pay his share of, any assessment, as computed and limited in accordance with this chapter, if:
(1) While his policy is in force or within one year after its termination, he is notified by either the attorney or the commissioner of his intentions to levy such assessment; or
(2) An order to show cause why a receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while his policy is in force or within one year after its termination.

Alabama § 27-31-23 (Levy of Assessments on Subscribers of Domestic Insurers - Time Limit) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.