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Ala. Code § 27-29-12

Suspension, Revocation or Nonrenewal of Insurer’s License or Authority to Do Business.

Known as the Alabama Insurance Holding Company System Regulatory Act

The act spans §§ 27-29-1 to 27-29-9 (18 sections).

(Acts 1973, No. 1042, p. 1636, §13.)

Whenever it appears to the commissioner that any person has committed a violation of this chapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner may, after giving notice and an opportunity to be heard, determine to suspend, revoke, or refuse to renew such insurer’s license or authority to do business in this state for such period as he finds is required for the protection of policyholders or the public. Any such determination shall be accompanied by specific findings of fact and conclusions of law.

Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.