Alabama § 27-6-2 - Deposits of Insurers - Purposes for Which Held.
Full text of Alabama Code of Alabama § 27-6-2 — Deposits of Insurers - Purposes for Which Held., with citation guidance and answers to common questions.
§ 27-6-2. Deposits of Insurers - Purposes for Which Held.
Such deposits shall be held for purposes as follows:
(1) Deposits made in this state under Sections 27-3-11, 27-3-12, and 27-3-14 of this title shall be held for the purposes stated in the respective sections;
(2) A deposit made in this state by a domestic insurer transacting insurance in another state, province or country and as required by the laws of such state, province, or country shall be held for the protection of the insurer’s policyholders or policyholders and creditors;
(3) Deposits of reserves made by domestic life insurers under laws heretofore in force shall be held for the purpose or purposes specified in such laws or in the policies or contracts by which such deposit was required or declared; and
(4) Deposits required pursuant to the retaliatory provision, Section 27-3-29, shall be held for such purposes as are required by such laws and as specified by the commissioner’s order by which the deposit is required.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 27-6-2
What does Code of Alabama § 27-6-2 cover?
Section 27-6-2 ("Deposits of Insurers - Purposes for Which Held.") 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 § 27-6-2?
A common citation format is "Code of Alabama § 27-6-2" (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 § 27-6-2 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.