Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-066 - TREATMENT OF UNCLAIMED FUNDS BY INSURERS
Section 482-1-066-.04 - Unclaimed Funds Shall Be Treated As A Liability
Universal Citation: AL Admin Code R 482-1-066-.04
Current through Register Vol. 42, No. 5, February 29, 2024
All unclaimed funds in the possession, or under the control of an insurer shall, at all times, be maintained as a liability on the books of the insurer. This requirement shall remain in effect until the funds are claimed or transferred to the custody of the State of Alabama under the provisions of the Uniform Disposition of Unclaimed Property Act.
Author: Commissioner of Insurance
Statutory Authority: Code of Ala. 1975, § 27-2-17.
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