Section 27-6-10 Power of attorney - New power of attorney. - Alabama Statutes

Section 27-6-10

Power of attorney - New power of attorney.

If less than all of the securities or assets covered by any such power of attorney is returned to the insurer or its trustee or agent, the commissioner may require the insurer to deliver to him, as a condition precedent to the return of such power of attorney, a new power of attorney covering the securities and assets not then being withdrawn. The new power of attorney shall be held and exercised under the same restrictions and upon the same conditions as prescribed in this chapter for the original power of attorney.

(Acts 1953, No. 727, p. 981, §4; Acts 1971, No. 407, p. 707, §106.)