Code of Alabama - Title 27: Insurance - Chapter 24 - Surety Insurance Contracts

• Section 27-24-1 Applicability of chapter
  This chapter shall not apply to any bond or undertaking which is not by law required to be approved by any state, county, municipal, precinct,...
• Section 27-24-2 Sole surety - Corporations
  Except as provided in Section 27-24-4, whenever any person or corporation is, or may be, required or permitted to execute bond or other undertaking, of...
• Section 27-24-3 Sole surety - Mutual or reciprocal surety insurers
  An authorized mutual or reciprocal surety insurer which has and maintains a surplus over and above all of its liabilities of $500,000.00, upon meeting all...
• Section 27-24-4 Sole surety - Cosureties on bond of State Treasurer
  No such corporation or insurer shall, however, be accepted as sole surety on the bond of the State Treasurer but may become and be accepted...
• Section 27-24-5 Additional bond upon insolvency, etc., of surety
  If the authority of a surety insurer to transact business in this state is revoked or otherwise terminated upon the ground that the insurer is...
• Section 27-24-6 Venue of actions on bonds or undertakings
  Any official bond or undertaking executed by a surety insurer may have an action maintained on it in the county of the residence of the...
• Section 27-24-7 Estoppel of insurer to deny its power, etc
  No corporation or insurer having signed any such official bond or undertaking shall be permitted to deny its corporate or other power to execute such...
• Section 27-24-8 Rights and remedies of insurers
  Such an insurer as surety on any official bond, undertaking, or obligation is entitled to all the rights and remedies of other sureties on such...

Last modified: May 3, 2021