A certificate of authority shall not be required of an insurer with respect to the following:

(1) Transactions relative to its policies lawfully written in this state or liquidation of assets and liabilities of the insurer, other than collection of new premiums, all as resulting from its former authorized operations in this state;

Terms Used In Alabama Code 27-3-2

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • following: means next after. See Alabama Code 1-1-1
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • 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
(2) Transactions thereunder subsequent to issuance of a policy covering only subjects of insurance not resident, located, or expressly to be performed in this state at time of issuance and lawfully solicited, written, or delivered outside this state;
(3) Transactions pursuant to surplus lines coverages lawfully written under Chapter 10 of this title; and
(4) Reinsurance.
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