Upon proper filing of claims pursuant to this title and upon order of the appropriate circuit court having jurisdiction of such cause after hearing, the duly appointed receiver shall make payment of claims upon liquidation of the insurer giving preference to policyholder claims as set out in Section 27-32-37 in strict conformity to said court order.
Ala. Code § 27-32-38
Priority of Claims of Policyholders and Beneficiaries - Payment of Claims.
Known as the Uniform Insurers Liquidation Act
The act spans §§ 27–27 (42 sections).
(Acts 1975, No. 1040, p. 2085, §2.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.