2009 Alabama Code
Title 27 — INSURANCE.
Chapter 6 — ADMINISTRATION OF DEPOSITS.
Section 27-6-8 Securities and assets - Authority to sell; exception.
Section 27-6-8Securities and assets - Authority to sell; exception.
The commissioner shall exercise the power granted by the power of attorney provided for in Section 27-6-7 or otherwise sell any security or asset under any assignment, transfer or conveyance pursuant to Section 27-6-6, only pursuant to, and in accordance with, an order of a court of competent jurisdiction in a proper proceeding or action to which the insurer owning such securities or assets is a party. This section shall not apply as to the special deposits of surety insurers which are subject to Section 27-6-13.
(Acts 1953, No. 727, p. 981, §2; Acts 1971, No. 407, p. 707, §104.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
