Ala. Admin. Code r. 482-1-017-.02

Current through Register Vol. 42, No. 11, August 30, 2024

Section 482-1-017-.02 - Definitions

The following definitions shall apply for purposes of this chapter:

(a) INSURANCE. A contract whereby one undertakes to indemnify another or pay or provide a specified amount or benefit upon determinable contingencies.

Author: Commissioner of Insurance

Ala. Admin. Code r. 482-1-017-.02

Effective August 1, 1957. Revised: March 1, 2001; effective April 1, 2001. Filed for codification in the Alabama Administrative Code by the Department of Insurance on November 14, 2005, pursuant to the Code of Ala. 1975, § 27-7-43.

Statutory Authority:Code of Ala. 1975, § 27-2-17.