Alabama § 27-3-13 - Deposit Requirements - Special Deposit - Title Insurers.
Full text of Alabama Code of Alabama § 27-3-13 — Deposit Requirements - Special Deposit - Title Insurers., with citation guidance and answers to common questions.
§ 27-3-13. Deposit Requirements - Special Deposit - Title Insurers.
(a) For authority to transact such insurance in this state, a foreign title insurer shall have and maintain on deposit in this state for the better protection of its guaranty holders and creditors, resident in this state, under its contracts of title insurance, cash and securities eligible under Section 27-6-3 having a value at all times of not less than $50,000.00. The deposit shall be so made and maintained in trust with a bank or trust company located in this state, approved by the commissioner, having a capital and surplus of not less than $500,000.00.
(b) At its option, a domestic title insurer may maintain a deposit in like manner, amount, character and for like purposes as required for foreign insurers under subsection (a) of this section.
(c) Such deposits shall be subject to the applicable provisions of Chapter 6 of this title.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 27-3-13
What does Code of Alabama § 27-3-13 cover?
Section 27-3-13 ("Deposit Requirements - Special Deposit - Title Insurers.") 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 § 27-3-13?
A common citation format is "Code of Alabama § 27-3-13" (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 § 27-3-13 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.