Section 27-32-41 Priority of claims of policyholders and beneficiaries - Liability of receiver. - Alabama Statutes

Section 27-32-41

Priority of claims of policyholders and beneficiaries - Liability of receiver.

A receiver of an insolvent insurer in liquidation or rehabilitation acting upon order of a circuit court having jurisdiction over said receivership shall not be liable to civil suit for obeying or carrying out the terms of such court order or in giving a preference to policyholders. Any such civil actions filed against a receiver shall be dismissed and barred upon a showing that the receiver was acting pursuant to court order or in conformity with Sections 27-32-37 through 27-32-40.

(Acts 1975, No. 1040, p. 2085, §5.)