Ala. Code § 27-2-34
This is the official text of Ala. Code § 27-2-34, part of Alabama’s Code — part of the compiled statutory law of Alabama, published by the state as "Code." Browse the sections below, each linked to its official government source.
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Section 27-2-34 Order of Supervision - Appointment of Supervisor; Acts Which May Be Prohibited During Period of Supervision
Official statutory text
During the period of supervision the commissioner may appoint a supervisor and may provide that the insurer may not do the following things during the period of supervision without the prior approval of the commissioner or his duly appointed supervisors:
(1) Dispose of, convey, or encumber any of its assets or its business in force;
(2) Withdraw any of its bank accounts;
(3) Lend any of its funds;
(4) Invest any of its funds;
(5) Transfer any of its property;
(6) Incur any debt, obligation, or liability;
(7) Enter into any new reinsurance contract or treaty;
(8) Issue to the public policies of insurance.
(1) Dispose of, convey, or encumber any of its assets or its business in force;
(2) Withdraw any of its bank accounts;
(3) Lend any of its funds;
(4) Invest any of its funds;
(5) Transfer any of its property;
(6) Incur any debt, obligation, or liability;
(7) Enter into any new reinsurance contract or treaty;
(8) Issue to the public policies of insurance.
Status: in_force · Read it on the official government site
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