Alabama Code 27-10-25. Acceptance and placement of surplus line business from agents or brokers
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Alabama Code 27-10-25
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
A licensed surplus line broker may accept and place surplus line business for any insurance producer licensed in this state for the kind and class of insurance involved and may compensate the producer therefor. No producer shall knowingly misrepresent to the broker any material fact involved in any insurance or in the eligibility thereof for placement with an unauthorized insurer.