The bill amends Section 27-10-24 of the Code of Alabama 1975, specifically regarding the licensing requirements for nonresident surplus line brokers. Key changes include the insertion of new language that specifies that applications must be submitted on a form as required by the commissioner, and that the license fee must also be paid to the commissioner, with the license expiring on December 31 of the year it is issued. Additionally, the bill replaces the term "lines tax" with "line taxes" in the context of the bond that must be filed by the applicant, which is set at a minimum of $50,000 and must remain in force for the duration of the license.

Furthermore, the bill clarifies the process for serving legal documents to nonresident surplus line brokers, establishing that service upon the commissioner constitutes effective legal service. It also outlines the procedures for serving process, including the option for the commissioner to provide notice of service to the nonresident defendant in various ways, including through qualified officers if the defendant is found within or outside Alabama. The bill emphasizes the importance of maintaining records of service for a minimum of three years. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 27-10-24
Enrolled: 27-10-24