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42 chapters · 1,739 sections in this title.
Ala. Code § 41-15-1 Creation; Purpose
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There shall be a fund, to be known as the State Insurance Fund, carried by the State Treasurer for the purpose of insuring direct physical loss on buildings and contents for the perils as may be determined by the Finance Director in which title in whole or in part is vested in th…
Ala. Code § 41-15-10 Premiums and Collected Earnings to Constitute Trust Fund; Surplus May Be Invested in Bonds, Stocks, Mutual Funds, Etc.; Limitations and Conditions; Requisition for Payment of Losses, Expenses, Etc
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All premiums and earnings collected under the provisions of this chapter shall constitute a trust fund to be applied as authorized in this chapter. With the approval of the Governor, any surplus in the fund over a necessary working capital, which shall be determined by the Direct…
Ala. Code § 41-15-11 Limitations Upon Expenditure of Funds; Employees Subject to Merit System
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No part of the funds provided for in Section 41-15-10 shall be used to increase the salary of any state employee. Only the salary of the designated risk manager, stenographic secretary, inspector, clerical force, and such other employees and expenses as may be necessary for the e…
Appropriation for Payment of Excess Fire or Tornado Losses; Reimbursement
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There is hereby appropriated from the Treasury the sum of $100,000.00 to be available only in case the loss by fire or tornado in any year shall exceed the premiums collected under the provisions of this chapter, and then only in such amount as may be required in addition to the …