Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/27-42-6.htm |
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Depth: | 0 singles |
Size: | 1,203 bytes |
Modified: | 1999-05-18 10:35:42 |
Categories: | -None- |
Title: | 27-42-6 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 27-42-6 Association created; member insurers; accounts. There is created a nonprofit unincorporated legal entity to be known as the Alabama Insurance Guaranty Association. All insurers defined as member insurers in subdivision (6) of Section 27-42-5 shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under Section 27-42-9 and shall exercise its powers through a board of directors established under Section 27-42-7. For purposes of administration and assessment, the association shall be divided into three separate accounts: (a) the workmen's compensation insurance account; (b) the automobile insurance account; and (c) the account for all other insurance to which this chapter applies. (Acts 1980, No. 80-806, p. 1639, ยง6.) |