Code of Alabama - Title 27: Insurance - Section 27-31-26 - Distribution of unused premiums, etc

Section 27-31-26 - Distribution of unused premiums, etc.

A reciprocal insurer may from time to time return to its subscribers any unused premiums, savings, or credits accruing to their accounts. Any such distribution shall not unfairly discriminate between classes of risks or policies or between subscribers, but such distribution may vary as to classes of subscribers, based upon the loss experience of such subscribers.

(Acts 1971, No. 407, p. 707, §616.)

Last modified: May 3, 2021