Code of Alabama

Ala. Code § 41-15-5 (2026)

Basis Upon Which Premiums Charged Generally; Reinsurance.

✓ official Alabama Legislature (ALISON) text, current July 2026

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The net premium charged shall be based on the current commercial rate with not less than a 40 percent discount. The risk manager with the approval of the Director of Finance may purchase such reinsurance as may in the opinion of the risk manager, be necessary for the proper distribution of the risk. The risk manager shall collect such reinsurance upon any loss sustained and pay the same into the State Insurance Fund.

(Acts 1923, No. 593, p. 769; Code 1923, §8543; Acts 1936-37, Ex. Sess., No. 219, p. 260; Acts 1939, No. 112, p. 144; Code 1940, T. 28, §321; Acts 1949, No. 675, p. 1045, §4; Acts 1967, No. 435, p. 1104; Acts 1990, No. 90-569, p. 966, §5.)

Notes of Decisions

Cited in 1 case, 2000–2000 · leading case: Alabama v. Shalala, 124 F. Supp. 2d 1250 (M.D. Ala. 2000).

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Alabama v. Shalala, 124 F. Supp. 2d 1250 (M.D. Ala. 2000). · cites it 2× “Ala.Code § 41-15-5. DORM also has the authority to establish reserves from the premiums paid to the SIF.”

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