Code of Alabama Title 27, Chapter 6a - Managing General Agents

  • Section 27-6a-1 - Short Title.
    Sections 27-6A-2 through 27-6A-8, inclusive, of this chapter may be cited as the "Alabama Managing General Agents Act." (Acts 1993, No. 93-675, p. 1240, §9.)
  • Section 27-6a-2 - Definitions.
    As used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) ACTUARY. A person who...
  • Section 27-6a-3 - Licensure Requirements.
    (a) No person, firm, association, or corporation shall act in the capacity of a managing general agent with respect to risks located in this state...
  • Section 27-6a-4 - Contract Requirements.
    No person, firm, association, or corporation acting in the capacity of a managing general agent shall place business with an insurer unless there is in...
  • Section 27-6a-5 - Duties of Insurer.
    Insurers shall have the following duties: (1) The insurer shall have on file an independent financial examination, in a form acceptable to the commissioner, of...
  • Section 27-6a-6 - Acts of Managing General Agent.
    The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing general...
  • Section 27-6a-7 - Penalties.
    (a) If the commissioner finds after a hearing conducted in accordance with Section 27-2-28, that any person has violated this chapter, the commissioner may order:...
  • Section 27-6a-8 - Compliance.
    No insurer may continue to use the services of a managing general agent after midnight December 31, 1993, unless the insurer is in compliance with...

Last modified: November 15, 2016