Alabama § 27-40-2 - Exemptions from Chapter.
Full text of Alabama Code of Alabama § 27-40-2 — Exemptions from Chapter., with citation guidance and answers to common questions.
§ 27-40-2. Exemptions from Chapter.
The provisions of this chapter shall not apply with respect to any of the following:
(1) Any insurance company licensed to do business in this state.
(2) Any banking or other financial institution regulated by the state, or savings and loan association, or credit union authorized to do business in this state, or any national banking institution or federal savings and loan association incorporated under the laws of the United States and located within this state.
(3) A charge for insurance in connection with an installment sale of a motor vehicle or boat or mobile home.
(4) The financing of insurance premiums in this state in accordance with the provisions of this title relating to rates of insurance.
(5) Any insurance agent or agency licensed in Alabama that charges a collection fee on unpaid balances for insurance premiums under Section 27-12-17 or under the Alabama Consumer Credit Act.
Frequently Asked Questions About Alabama § 27-40-2
What does Code of Alabama § 27-40-2 cover?
Section 27-40-2 ("Exemptions from Chapter.") 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 § 27-40-2?
A common citation format is "Code of Alabama § 27-40-2" (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 § 27-40-2 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.