The bill amends Section 27-10-24 of the Code of Alabama 1975, specifically focusing on 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, replacing the previous requirement for forms designated and furnished by the commissioner. Additionally, the bill clarifies that the license fee must be paid to the commissioner and that the license will expire on December 31 of the year it is issued. The bill also updates the terminology regarding the bond requirement, changing "lines tax" to "line taxes" and ensuring that the bond remains in force for the duration of the license.

Furthermore, the bill outlines the process for serving legal documents to nonresident surplus line brokers, establishing that service upon the commissioner constitutes effective legal service. It includes provisions for how service can be executed, whether the nonresident is found within or outside Alabama, and mandates that the commissioner maintain records of all legal processes served. The act is set to take effect immediately upon passage.

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