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2019 Code of Alabama
Title 27 - Insurance.
Chapter 41 - Investments of Life, Disability and Burial Insurance Companies.
Section 27-41-40 - Effect of failure to dispose of real estate, personal property, securities, etc., within prescribed period of time.
Universal Citation: AL Code § 27-41-40 (2019)
Section 27-41-40Effect of failure to dispose of real estate, personal property, securities, etc., within prescribed period of time.
Any real estate, personal property, securities, or other investment lawfully acquired and held by an insurer shall not be allowed as an admitted asset of the insurer after expiration of the period for disposal thereof or any extension of such period granted by the commissioner pursuant to the provisions of Section 27-41-34.
(Acts 1977, No. 408, p. 530, §36.)
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