Section 27-21-3 Premium rates and administration expenses. - Alabama Statutes

Section 27-21-3

Premium rates and administration expenses.

Each insurer or association electing to come under the provisions of this chapter shall charge the same premium for the same insurance coverage and be allowed the same percentage for expense of administration. Such premium rate and percentage for administration expense shall be determined and approved by the commissioner so as to maintain the nonprofit basis of the plan.

(Acts 1971, No. 501, p. 1218.)