Alabama § 27-32-41 Priority of Claims of Policyholders and Beneficiaries - Liability of Receiver

Alabama Statutes

§ 27-32-41 — Priority of Claims of Policyholders and Beneficiaries - Liability of Receiver

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

A receiver of an insolvent insurer in liquidation or rehabilitation acting upon order of a circuit court having jurisdiction over said receivership shall not be liable to civil suit for obeying or carrying out the terms of such court order or in giving a preference to policyholders. Any such civil actions filed against a receiver shall be dismissed and barred upon a showing that the receiver was acting pursuant to court order or in conformity with Sections 27-32-37 through 27-32-40.

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A receiver of an insolvent insurer in liquidation or rehabilitation acting upon order of a circuit court having jurisdiction over said receivership shall not be liable to civil suit for obeying or carrying out the terms of such court order or in giving a preference to policyholders. Any such civil actions filed against a receiver shall be dismissed and barred upon a showing that the receiver was acting pursuant to court order or in conformity with Sections 27-32-37 through 27-32-40.

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