Ala. Code § 27-44 et seq. – Life and Disability Insurance Guaranty Association | Midpage

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Code of Alabama

Chapter 44

Ala. Code § 27-44 et seq.

Life and Disability Insurance Guaranty Association

27-44-1Short Title.27-44-2Purpose of Chapter.27-44-3Scope of Chapter.27-44-4Construction of Chapter.27-44-5Definitions.27-44-6Creation of Association; Membership; Accounts; Supervision.27-44-7Board of Directors; Selection of Members; Vacancies; Organizational Meeting; Reimbursement for Expenses.27-44-8Powers and Duties of Association.27-44-9Assessments.27-44-10Submission of Plan of Operation and Amendments; Promulgation of Rules in Absence of Plan.27-44-11Duties and Powers of Commissioner; Appeal and Review; Notification.27-44-12Duties of Commissioner and Board with Regard to Detection and Prevention of Insolvencies or Impairment.27-44-13Credits for Assessments Paid.27-44-14Liability of Unpaid Assessments; Records of Negotiations and Meetings; Association Deemed Creditor of Impaired or Insolvent Insurer; Judicial Distribution of Ownership Rights of Insolvent Insurer; Recovery by Receiver of Certain Distributions from Controlling Affiliates.27-44-15Examination and Regulation of Association; Annual Report.27-44-16Tax Exemptions.27-44-17Immunity Under Chapter.27-44-18Stay of Proceedings; Reopening Default Judgments.27-44-20Association, Policyholders, Beneficiaries, and Insureds to Have Preferred Creditor Status.27-44-21Immediate Access of Associations in This and Other States to Assets of Insolvent Insurer; Application to Court; Contents of Proposal; Notice.