Alabama § 27-29A-9 - Sanctions.
Full text of Alabama Code of Alabama § 27-29A-9 — Sanctions., with citation guidance and answers to common questions.
§ 27-29A-9. Sanctions.
(a) Any insurer failing, without just cause as determined by the commissioner, to timely file the ORSA Summary Report as required in this chapter shall be required, after notice and hearing as provided in Chapter 2, to pay a penalty of one hundred dollars ($100) for each day’s delay, not to exceed ten thousand dollars ($10,000).
(b) The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.
(c) Any penalty collected under this section shall be deposited in the State Treasury to the credit of the Insurance Department Fund.
Frequently Asked Questions About Alabama § 27-29A-9
What does Code of Alabama § 27-29A-9 cover?
Section 27-29A-9 ("Sanctions.") 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 § 27-29A-9?
A common citation format is "Code of Alabama § 27-29A-9" (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 § 27-29A-9 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.