Alabama § 27-32-2 Purpose of Chapter; Construction Thereof

Alabama Statutes

§ 27-32-2 — Purpose of Chapter; Construction Thereof

Alabama·Title 27 Insurance·Ch. 32 Rehabilitation, Reorganization, Conservation, and Liquidation of Insurers

The purpose of this chapter is to promote effectiveness, economy, and uniformity in the rehabilitation, reorganization, conservation, and liquidation of insurers doing business in this state. It is intended that this chapter shall be liberally construed to the end so far as possible that the assets of such insurers shall be effectively conserved and that, in the case of insurers transacting business in more than one state, claimants against the insurer shall receive equal and uniform treatment irrespective of residence or the place of the acts or contracts upon which their claims are based.

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The purpose of this chapter is to promote effectiveness, economy, and uniformity in the rehabilitation, reorganization, conservation, and liquidation of insurers doing business in this state. It is intended that this chapter shall be liberally construed to the end so far as possible that the assets of such insurers shall be effectively conserved and that, in the case of insurers transacting business in more than one state, claimants against the insurer shall receive equal and uniform treatment irrespective of residence or the place of the acts or contracts upon which their claims are based.

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