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State statute · Alabama

Insurance Premium Finance Companies (27-40-1 to 27-40-18)

Alabama Code Title 27 (Insurance) Chapter 40

Publisher
Legislative Services Agency of the Alabama Legislature
Edition
Code of Alabama as served by ALISON on 2026-09-29
Last checked
2026-09-29
Status
Code of Alabama, public domain
Edition and licensing notes

Publisher. Legislative Services Agency of the Alabama Legislature (ALISON, alison.legislature.state.al.us)

Status. Code of Alabama, public domain (state government edict).

Read the official textPractice questions from this source

What this document is

Alabama Code Title 27 (Insurance) Chapter 40 - Insurance Premium Finance Companies (27-40-1 to 27-40-18) is a state statute published by Legislative Services Agency of the Alabama Legislature (ALISON, alison.legislature.state.al.us). It is one of the Alabama documents that insurance license exam questions are written from, including alabama property & casualty, alabama personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

  • Ala. Code Section 27-40-10 (Delinquency and Cancellation Charges)
    “If the default results in the cancellation of any insurance contract listed in the agreement, the agreement may provide for the payment by the insured of a cancellation charge of $5.00 in the case of a consumer insurance premium finance agreement and $15.00 in the case of a commercial insurance...”
  • Ala. Code Section 27-40-18 (Delivery of Copy of Premium Finance Agreement to Insured)
    “Prior to the due date of the first installment payable under a premium finance agreement, the premium finance company holding the agreement shall deliver to the insured, or mail to him or her at his or her address as shown in the agreement, a copy thereof.”

Practice this material

Alabama Property & Casualty practice testAlabama Personal Lines practice test

Questions about this source

Alabama Code Title 27 (Insurance) Chapter 40 - Insurance Premium Finance Companies (27-40-1 to 27-40-18) is a state statute published by Legislative Services Agency of the Alabama Legislature (ALISON, alison.legislature.state.al.us). Edition: Code of Alabama as served by ALISON on 2026-09-29.

No. This page summarizes the document and links to the official version. Always rely on the text published by Legislative Services Agency of the Alabama Legislature (ALISON, alison.legislature.state.al.us) for the current law.

Practice questions for Alabama Property & Casualty, Alabama Personal Lines cite this document.

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