Alabama Code 27-33-4. Purpose and duration of trust
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Terms Used In Alabama Code 27-33-4
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1
The deposit required by Section assets in trust” class=”unlinked-ref” datatype=”S” sessionyear=”2020″ statecd=”AL” title=”27″>27-33-2 shall be for the benefit, security, and protection of the policyholders or policyholders and creditors of the insurer in the United States. It shall be maintained as long as there is outstanding any liability of the insurer arising out of its insurance transactions in the United States.