Alabama § 27-41-35 - Miscellaneous Investments.
Full text of Alabama Code of Alabama § 27-41-35 — Miscellaneous Investments., with citation guidance and answers to common questions.
§ 27-41-35. Miscellaneous Investments.
(a) An insurer may make investments not otherwise expressly permitted by this chapter which may be counted as admitted assets, except as expressly prohibited under Section 27-41-36, provided that:
(1) The aggregate of all such investments shall not exceed 10 percent of the insurer’s admitted assets;
(2) The insurer’s capital and surplus shall not be less than twice the total capital and surplus required of the insurer to transact insurance under Sections 27-3-7 and 27-3-8 of the Alabama Insurance Code; and
(3) Such investments are sound investments.
(b) No investment shall be an eligible investment under this section if the investment is in an asset not allowed under the provisions of Section 27-37-2 of the Alabama Insurance Code or is otherwise expressly prohibited or is eligible under any other provision of this chapter; except, that an insurer may invest in common stocks up to the limits imposed by this section in excess of the limits imposed by Section 27-41-17.
(c) The insurer shall keep a separate record of all investments made under this section.
(d) If an investment made under this section subsequently qualifies as an eligible investment under any other provision of this chapter, the investment shall thereafter not be eligible under this section.
Frequently Asked Questions About Alabama § 27-41-35
What does Code of Alabama § 27-41-35 cover?
Section 27-41-35 ("Miscellaneous Investments.") 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 § 27-41-35?
A common citation format is "Code of Alabama § 27-41-35" (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 § 27-41-35 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.