Alabama Code 27-5B-9. Credit for reinsurance required by law
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Terms Used In Alabama Code 27-5B-9
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
Credit shall be allowed when the reinsurance is ceded to an assuming insurer not meeting the requirements of Section 27-5B-4, 27-5B-5, state with substantially similar law” class=”unlinked-ref” datatype=”S” sessionyear=”2022″ statecd=”AL”>27-5B-6, 27-5B-7, 27-5B-8, or 27-5B-8.1, but only as to the insurance of risks located in jurisdictions where the reinsurance is required by applicable law or regulation of that jurisdiction.