2015 Code of Alabama
Title 27 - INSURANCE.
Chapter 14 - THE INSURANCE CONTRACT.
Section 27-14-1 - Definitions.
For the purposes of this chapter, the following terms shall have the meanings respectively ascribed to them by this section:
(1) POLICY. A written contract of, or written agreement for, or effecting, insurance, by whatever name called, and includes all clauses, riders, endorsements, and papers attached, or issued, and delivered for attachment thereto and made a part thereof.
(2) PREMIUM. The consideration for insurance, by whatever name called. Any "assessment" or any "membership," "policy," "survey," "inspection," "service," or similar fee or charge in consideration for an insurance contract is deemed part of the premium.
(Acts 1971, No. 407, p. 707, §315.)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.
