§ 27-31C-1 Short title
§ 27-31C-2 Definitions
§ 27-31C-3 License to provide homeowners insurance; exemptions; powers and duties
§ 27-31C-4 Issuance of license – Requirements
§ 27-31C-5 Formation requirements
§ 27-31C-6 Exemptions from chapter
§ 27-31C-7 Confidentiality of information
§ 27-31C-8 Application notice and acknowledgement
§ 27-31C-9 Findings of the commissioner

Terms Used In Alabama Code > Title 27 > Chapter 31C

  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Service of process: The service of writs or summonses to the appropriate party.