Ala. Admin. Code r. 482-1-099-.02

Current through Register Vol. 43, No. 1, October 31, 2024

Section 482-1-099-.02 - Purpose

The capital and surplus requirements in Sections 27-3-7, 27-27-15, and 27-21A-12, Code of Ala. 1975, are minimums. The Commissioner may require additional capital and/or surplus based upon the type, volume and nature of insurance business transacted, consistent with the provisions of applicable law or the current risk based capital standards of the National Association of Insurance Commissioners.

Author: Commissioner of Insurance

Ala. Admin. Code r. 482-1-099-.02

New: July 5, 1994; effective July 15, 1994. Filed for codification in the Alabama Administrative Code by the Department of Insurance on November 14, 2005, pursuant to the Code of Ala. 1975, § 27-7-43.

Statutory Authority:Code of Ala. 1975, § 27-2-17.