Alabama § 27-24-5 - Additional Bond Upon Insolvency, Etc., of Surety.
Full text of Alabama Code of Alabama § 27-24-5 — Additional Bond Upon Insolvency, Etc., of Surety., with citation guidance and answers to common questions.
§ 27-24-5. Additional Bond Upon Insolvency, Etc., of Surety.
If the authority of a surety insurer to transact business in this state is revoked or otherwise terminated upon the ground that the insurer is insolvent or cannot be safely accepted as surety upon bonds and undertakings mentioned in Section 27-24-2, it shall be the duty of any officer in this state authorized to approve official bonds, upon receiving the circular letter from the commissioner as provided for in subsection (c) of Section 27-3-22 or upon otherwise being informed of such revocation or termination, to require the principal in any such bond upon which such insurer has become surety to give an additional bond as provided by law.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 27-24-5
What does Code of Alabama § 27-24-5 cover?
Section 27-24-5 ("Additional Bond Upon Insolvency, Etc., of Surety.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 27-24-5?
A common citation format is "Code of Alabama § 27-24-5" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 27-24-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.