Alabama § 27-31E-4 Transfer of Funds from the Insurance Department Fund

Alabama Statutes

§ 27-31E-4 — Transfer of Funds from the Insurance Department Fund

Alabama·Title 27 Insurance·Ch. 31E Strengthen Alabama Homes Act

(a)Notwithstanding Section 27-2-39, the Commissioner of Insurance shall transfer from the Insurance Department Fund to the Strengthen Alabama Homes Fund any amount remaining in the Insurance Department Fund on September 30, 2022, which exceeds 25 percent of the amount appropriated for the Insurance Department Fund for the fiscal year ending September 30, 2022.

(b)The Commissioner of Insurance may transfer to the Strengthen Alabama Homes Fund from the Insurance Department Fund up to 50 percent of the amount appropriated to the Insurance Department Fund each fiscal year.

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(a) Notwithstanding Section 27-2-39, the Commissioner of Insurance shall transfer from the Insurance Department Fund to the Strengthen Alabama Homes Fund any amount remaining in the Insurance Department Fund on September 30, 2022, which exceeds 25 percent of the amount appropriated for the Insurance Department Fund for the fiscal year ending September 30, 2022.
(b) The Commissioner of Insurance may transfer to the Strengthen Alabama Homes Fund from the Insurance Department Fund up to 50 percent of the amount appropriated to the Insurance Department Fund each fiscal year.

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