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2018 Code of Alabama
Title 27 - INSURANCE.
Chapter 10 - UNAUTHORIZED INSURERS AND SURPLUS LINES.
Article 2 - Surplus Line Insurance.
Section 27-10-25 - Acceptance and placement of surplus line business from agents or brokers.
Universal Citation: AL Code § 27-10-25 (2018)
Section 27-10-25Acceptance and placement of surplus line business from agents or brokers.
A licensed surplus line broker may accept and place surplus line business for any insurance producer licensed in this state for the kind and class of insurance involved and may compensate the producer therefor. No producer shall knowingly misrepresent to the broker any material fact involved in any insurance or in the eligibility thereof for placement with an unauthorized insurer.
(Acts 1963, No. 521, p. 1112, §12; Acts 1971, No. 407, p. 707, §200; Act 2001-702, p. 1509, §15.)
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