Beginning 180 days after January 1, 1972, every insurer shall, before using or applying any rate to any kind of insurance coming within the scope of this article, file with the department a copy of the rating system upon which such rate is based or by which such rate is fixed or determined. The filing required in this section may be made on behalf of such insurer by a rating organization of which such insurer is a member or subscriber. The provisions of this section shall be deemed to have been complied with by any insurer which had, before January 1, 1972, been a member or subscriber of a rating organization doing business in the state. From and after the date of the filing of such rating systems, every insurer shall charge and receive rates fixed or determined in strict conformity therewith, except as in this article otherwise expressly provided.
Ala. Code § 27-13-29
Filing of Rating Systems with Department by Insurers - Requirement.
Known as the The Rating Law
The act spans §§ 27-13-1 to 27-13-83 (65 sections).
Applied in 1 court decision — leading case Wal-Mart Stores, Inc. v. Crist (1987)
Most recently applied in Wal-Mart Stores, Inc. v. Crist (July 1987)
(Acts 1945, No. 132, p. 133, §8; Acts 1971, No. 407, p. 707, §264.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.