Code of Alabama - Title 27: Insurance - 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."
• 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: May 3, 2021