Statutes > Alabama Statutes > Title 27 — INSURANCE. > Chapter 31 — RECIPROCAL INSURERS. > Section 27-31-12 Bond of attorney of domestic insurer - Deposit in lieu thereof.

Section 27-31-12 Bond of attorney of domestic insurer - Deposit in lieu thereof.

Section 27-31-12

Bond of attorney of domestic insurer - Deposit in lieu thereof.

In lieu of the bond required under Section 27-31-11, the attorney may maintain on deposit with the State Treasurer, through the office of the commissioner, a like amount in cash or in value of securities qualified for deposit under Section 27-6-3, and subject to the same conditions as the bond.

(Acts 1971, No. 407, p. 707, §602.)