Alabama § 27-33-2 Deposit of Assets in Trust

Alabama Statutes

§ 27-33-2 — Deposit of Assets in Trust

Alabama § 27-33-2

Title 27Insurance

Ch. 33Trusteed Assets of Alien Insurers

This text of Alabama § 27-33-2 (Deposit of Assets in Trust) 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 § 27-33-2 (2026).

Text

(a)An alien insurer may use Alabama as a state of entry to transact insurance in the United States by making and maintaining in this state a deposit of assets in trust with a solvent bank or trust company approved by the commissioner.

(b)The deposit, together with other trust deposits of the insurer held in the United States for the same purpose, shall be in amount not less than the deposits required of an alien insurer under Section 27-3-14 and shall consist of cash and/or securities eligible for the investment of the funds of like domestic insurers.

(c)Such a deposit may be referred to as “trusteed assets.”

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(a) An alien insurer may use Alabama as a state of entry to transact insurance in the United States by making and maintaining in this state a deposit of assets in trust with a solvent bank or trust company approved by the commissioner.
(b) The deposit, together with other trust deposits of the insurer held in the United States for the same purpose, shall be in amount not less than the deposits required of an alien insurer under Section 27-3-14 and shall consist of cash and/or securities eligible for the investment of the funds of like domestic insurers.
(c) Such a deposit may be referred to as “trusteed assets.”