Alabama Code 27-2-34. Order of supervision – Appointment of supervisor; acts which may be prohibited during period of supervision
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During the period of supervision the commissioner may appoint a supervisor and may provide that the insurer may not do the following things during the period of supervision without the prior approval of the commissioner or his duly appointed supervisors:
Terms Used In Alabama Code 27-2-34
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- following: means next after. See Alabama Code 1-1-1
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- property: includes both real and personal property. See Alabama Code 1-1-1