AL SB97

Amends Section 27-10-24 of the Alabama Code to clarify requirements for licensing nonresident surplus line brokers under the Department of Insurance.

Requires nonresident surplus line brokers to submit applications on forms designated by the commissioner and pay license fees as specified in Section 27-4-2, with licenses expiring December 31 after issuance.

Requires nonresident surplus line brokers to file a bond in favor of the State of Alabama with a minimum penal sum of $50,000 aggregate liability with authorized corporate sureties, with bond amount subject to increase based on prior surplus line taxes paid.

Establishes that licensed nonresident surplus line brokers automatically appoint the commissioner to receive legal service of process, with service upon the commissioner constituting effective legal service upon the nonresident for claims arising from surplus line broker transactions.

Commissioner must maintain records for at least three years of all summons, complaints, and other legal process served, including details of service date, time, and manner.