Alabama § 27-5B-6 - Reinsurer Domiciled in State with Substantially Similar Law.
Full text of Alabama Code of Alabama § 27-5B-6 — Reinsurer Domiciled in State with Substantially Similar Law., with citation guidance and answers to common questions.
§ 27-5B-6. Reinsurer Domiciled in State with Substantially Similar Law.
(a) Credit shall be allowed when the reinsurance is ceded to an assuming insurer that is domiciled in, or in the case of a U.S. branch of an alien assuming insurer is entered through, a state that employs standards regarding credit for reinsurance substantially similar to those applicable under this chapter and the assuming insurer or U.S. branch of an alien assuming insurer does both of the following:
(1) Maintains a surplus as regards policyholders in an amount not less than twenty million dollars ($20,000,000).
(2) Submits to the authority of this state to examine its books and records.
(b) The requirement of subdivision (1) of subsection (a) does not apply to reinsurance ceded and assumed pursuant to pooling arrangements among insurers in the same holding company system.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 27-5B-6
What does Code of Alabama § 27-5B-6 cover?
Section 27-5B-6 ("Reinsurer Domiciled in State with Substantially Similar Law.") 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 § 27-5B-6?
A common citation format is "Code of Alabama § 27-5B-6" (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 § 27-5B-6 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.