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19-3A-501
Section 19-3A-501 Disbursements from income. A trustee shall make the following disbursements
from income to the extent that they are not disbursements to which Section 19-3A-201(c)(2)
or Section 19-3A-201(c)(3) applies: (a) All of the regular compensation of the trustee and
of any person providing investment advisory or custodial services to the trustee, to the extent
not charged to principal pursuant to Section 19-3A-502(a)(1); (b) All expenses for accountings,
judicial proceedings, or other matters that involve both the income and remainder interests,
to the extent not charged to principal pursuant to Section 19-3A-502(a)(1); (c) All of the
other ordinary expenses incurred in connection with the administration, management, or preservation
of trust property and the distribution of income, including interest, ordinary repairs, regularly
recurring taxes assessed against principal, and expenses of a proceeding or other matter that
concerns primarily the income interest; (d) All...
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27-27-16
Section 27-27-16 Domestic mutual insurers - Bond or deposit in lieu thereof. (a) Before soliciting
any applications for insurance required under Section 27-27-15, as qualification for the original
certificate of authority, the incorporators of the proposed mutual insurer shall file with
the commissioner a corporate surety bond in the penalty of $15,000.00 in favor of the State
of Alabama and for the use and benefit of the state and of applicant members and creditors
of the corporation. The bond shall be conditioned as follows: (1) Upon payment of any loss
suffered by applicants who have cancelled or lapsed existing insurance policies due to misrepresentation
by the incorporators or by persons soliciting such applications under authorization by the
corporation, to the effect that the making of such application for insurance and prepayment
of premiums in such proposed insurer provides insurance protection prior to issuance of a
certificate of authority to such insurer by the...
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27-12-13
Section 27-12-13 Life, annuity, and disability insurance - Exceptions to discrimination, rebates,
or special inducements. Nothing in Sections 27-12-11 and 27-12-12 shall be construed as including
within the definition of discrimination, rebates, or special inducements any of the following
practices: (1) In the case of any contract of life insurance or annuity, paying bonuses to
policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated
from nonparticipating insurance, provided, that any such bonuses or abatement of premiums
is fair and equitable to policyholders and for the best interests of the insurer and its policyholders;
(2) In the case of life or disability insurance policies issued on the industrial debit or
weekly premium plan, making allowance to policyholders who have continuously for a specified
period made premium payments directly to an office of the insurer in an amount which fairly
represents the saving in collection expense; (3)...
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27-19-1
Section 27-19-1 Applicability of article. Nothing in this article shall apply to or affect:
(1) Any policy of liability or workmen's compensation insurance, with or without supplementary
expense coverage therein; (2) Any group or blanket policy; (3) Life insurance, endowment,
or annuity contracts, or contracts supplemental thereto which contain only such provisions
relating to disability insurance as: a. Provide additional benefits in case of death or dismemberment
or loss of sight by accident; or b. Operate to safeguard such contracts against lapse or to
give a special surrender value, or special benefit or an annuity in the event that the insured
or annuitant becomes totally and permanently disabled, as defined by the contract or supplemental
contract; (4) Reinsurance; or (5) Industrial insurance, which is disability insurance issued
under policies sold on a debit basis, bearing the words "industrial policy" imprinted
on the face of the policy as part of the descriptive matter, and...
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27-25-3
Section 27-25-3 Definitions. For the purposes of this chapter, the following terms shall have
the following meanings: (1) ABSTRACT OF TITLE. A compilation or summary of all instruments
of public record of whatever kind or nature which in any manner affect title to a specified
parcel of real property. (2) BUSINESS ENTITY. A domestic entity properly formed and existing
under Title 10A. (3) COMMISSIONER. The Commissioner of the Alabama Department of Insurance.
(4) INDIVIDUAL. A natural person. (5) NAIC. The National Association of Insurance Commissioners,
its subsidiaries and affiliates, and any successor thereof. (6) OPINION OF TITLE. A written
expression of the status of title, including, but not limited to, the validity or invalidity
thereof, based upon an examination by an attorney at law, who is licensed to practice law
in this state, of instruments of public record or an abstract thereof affecting title to a
specified parcel of real property to ascertain the history and present...
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32-7-22
Section 32-7-22 Motor vehicle liability policy defined; policy provisions. (a) A motor vehicle
liability policy, as the term is used in this chapter, means an owner's or an operator's policy
of liability insurance, certified as provided in Section 32-7-20 or Section 32-7-21 as proof
of financial responsibility, and issued, except as otherwise provided in Section 32-7-21,
by an insurance carrier duly authorized to transact business in this state, to or for the
benefit of the person named in the policy as insured. (b) The owner's policy of liability
insurance: (1) Shall designate by explicit description or by appropriate reference all motor
vehicles to be insured; and (2) Shall insure the person named in the policy and any other
person, as insured, using any motor vehicle or motor vehicles designated in the policy with
the express or implied permission of the named insured, against loss from the liability imposed
by law for damages arising out of the ownership, maintenance, or use of...
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37-3-23.1
Section 37-3-23.1 Unenforceability of certain motor vehicle transportation contract provisions.
(a) In this section, the following words shall have the following meanings: (1) MOTOR CARRIER.
The same meaning ascribed in subdivision (10) of Section 37-3-2, or any successor provision
and includes an agent, employee, servant, or independent contractor of the motor carrier if
the agent, employee, servant, or independent contractor provides services in connection with
the particular motor vehicle transportation contract to which subsection (b) applies. (2)
MOTOR CARRIER TRANSPORTATION CONTRACT. A bill of lading, contract, agreement, or other understanding
covering the following: a. The transportation of property for compensation or hire by the
motor carrier. b. Entrance on property by the motor carrier for the purpose of loading, unloading,
or transporting property for compensation or hire. c. A service incidental to a. or b., including,
but not limited to, storage of property. (3) MOTOR...
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27-19-103
Section 27-19-103 Definitions. Unless the context requires otherwise, the definitions in this
section apply throughout this article. (1) APPLICANT. In the case of: a. An individual long-term
care insurance policy, the person who seeks to contract for benefits. b. A group long-term
care insurance policy, the proposed certificate holder. (2) CERTIFICATE. Any certificate issued
under a group long-term care insurance policy, which policy has been delivered or issued for
delivery in this state. (3) COMMISSIONER. The Alabama Commissioner of Insurance. (4) GROUP
LONG-TERM CARE INSURANCE. A long-term care insurance policy which is delivered or issued for
delivery in this state and issued to any of the following: a. One or more employers or labor
organizations, or to a trust or to the trustees of a fund established by one or more employers
or labor organizations, or a combination thereof, for employees or former employees or a combination
thereof, or for members or former members or a...
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24-1-72
Section 24-1-72 Powers of authority to secure payment of bonds, etc. In connection with the
issuance of bonds or the incurring of any obligation under a lease and in order to secure
the payment of such bonds or obligations, the authority shall have power: (1) To pledge by
resolution, trust indenture, mortgage, subject to the limitations hereinafter imposed, or
other contract all or any part of its rents, fees, or revenues. (2) To covenant against mortgaging
all or any part of its property, real or personal, then owned or thereafter acquired, or against
permitting or suffering any lien thereon. (3) To covenant with respect to limitations on its
right to sell, lease, or otherwise dispose of any housing project, or any part thereof, or
with respect to limitations on its right to undertake additional housing projects. (4) To
covenant against pledging all or any part of its rents, fees, and revenues to which its right
then exists, or the right to which may thereafter come into existence, or...
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27-19-105
Section 27-19-105 Regulations for long-term care policies; outline of coverage, policy summary,
and monthly report. (a) The commissioner may adopt regulations that include standards for
full and fair disclosure setting forth the manner, content, and required disclosures for the
sale of long-term care insurance policies, terms of renewability, initial and subsequent conditions
of eligibility, nonduplication of coverage provisions, coverage of dependents, preexisting
conditions, termination of insurance, continuation or conversion, probationary periods, limitations,
exceptions, reductions, elimination periods, requirements for replacement, recurrent conditions,
and definitions of terms. Regulations under this subsection should recognize the developing
and unique nature of long-term care insurance and the distinction between group and individual
long-term insurance policies. (b) No long-term care insurance policy may do any of the following:
(1) Be cancelled, nonrenewed, or otherwise...
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