27-7-4.2
Section 27-7-4.2 Licenses - Applicability to insurance producer. (a) Nothing in this chapter shall be construed to require an insurer to obtain an insurance producer license. In this section, the term "insurer" does not include an insurer's officers, directors, employees, subsidiaries, or affiliates. (b) A license as an insurance producer shall not be required of any of the following: (1) An officer, director, or employee of an insurer or of an insurance producer, provided that the officer, director, or employee does not receive any commission on policies written or sold to insure risks residing, located, or to be performed in this state and any of the following: a. The officer, director, or employee's activities are executive, administrative, managerial, clerical, or a combination of these, and are only indirectly related to the sale, solicitation, or negotiation of insurance. b. The officer, director, or employee's function relates to underwriting, loss control, inspection, or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-4.2.htm - 4K - Match Info - Similar pages
27-12A-2
Section 27-12A-2 Insurance fraud - definition. A person commits the crime of insurance fraud if, knowingly and with intent to defraud, he or she commits, or conceals any material information concerning, one or more of the following acts: (1) The solicitation or acceptance of new or renewal insurance risks on behalf of an insurer, reinsurer, or other person engaged in the transaction of the business of insurance, by a person who knows the insurer, reinsurer, or other person responsible for the risk is financially unable to pay its claims at the time of the transaction. (2) The removal, concealment, alteration, or destruction of the assets or records relating to the transaction of the business of insurance of an insurer, reinsurer, or other person engaged in the transaction of the business of insurance. This section does not prohibit an insurer, reinsurer, or other person engaged in the transaction of the business of insurance from destroying records or documents relating to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-12A-2.htm - 3K - Match Info - Similar pages
27-41-30
Section 27-41-30 Particular investments - Loans, notes, etc., secured by mortgages and leases on real property. An insurer may invest in loans, notes, bonds, or other evidences of indebtedness of any person up to the fair value of real property securing said indebtedness, upon compliance with the following conditions and provisions: (1) The indebtedness must be secured by a first mortgage lien on real property having a fair value of not less than the principal amount of the loan, except as provided in subdivision (8) of this section; (2) The indebtedness must be additionally secured by a lease on said real property, which lease must be assigned and transferred by the lessor to the lender or to a trustee of the lender under a trust instrument; (3) The lease so assigned as additional security must be noncancellable and may be terminated only upon such conditions as are generally provided in commercial leases, such as, for example, destruction by fire, tornado, or similar hazard or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-30.htm - 4K - Match Info - Similar pages
32-7A-11
Section 32-7A-11 Online insurance verification system - Notification upon inability to verify existing insurance; proof of coverage; penalties. (a)(1) When the department is unable to verify that liability insurance coverage exists for a motor vehicle registered or required to be registered in this state, the department shall send the registrant notice via U.S. mail at the last known address as reflected on the department's motor vehicle registration records. The notice shall require that the registrant, within 30 calendar days of the date of the notice, provide evidence of continuous liability insurance coverage for the vehicle for the period specified by the department. The registration will be suspended unless either: a. The registrant responds within the required time frame and the response establishes that the registrant has not had a lapse in liability insurance coverage. The department shall then indicate in its records that the insured is in compliance with this chapter. b. The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7A-11.htm - 4K - Match Info - Similar pages
45-2-243.21
Section 45-2-243.21 Programs; contracts; powers. (a) The bureau shall conduct programs, including but not limited to, programs of information and publicity designed to attract conventions and tourists to the area. The bureau shall conduct programs in Alabama and elsewhere, and expend its funds in the furtherance of the programs in Alabama and elsewhere. (b) The bureau may enter into contracts with a person, firm, corporation, or association to carry out the purposes set forth in this subpart. No contract entered into by the bureau shall bind the State of Alabama, a county, or a municipality of the State of Alabama. (c) The bureau shall have the following powers: (1) To sue and be sued. (2) To acquire property, rights, and interest, in property by gift, lease, or purchase. (3) To have a seal and alter the seal at pleasure. (4) To appoint officers, agents, employees, and attorneys and fix their compensation. (5) To make bylaws for the management and regulation of its affairs. (6) To...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-2-243.21.htm - 2K - Match Info - Similar pages
11-54-145
Section 11-54-145 Requirements respecting leases. Prior to the leasing of any project, the governing body must determine and find the following: The amount necessary in each year to pay the principal of and the interest on the bonds proposed to be issued to finance such project; the amount necessary to be paid each year into any reserve funds which the governing body may deem it advisable to establish in connection with the retirement of the proposed bonds and the maintenance of the project; and, unless the terms under which the project is to be leased provide that the lessee shall maintain the project and carry all proper insurance with respect thereto, the estimated cost of maintaining the project in good repair and keeping it properly insured. The determinations and findings of the governing body required to be made in the preceding sentence shall be set forth in the proceedings under which the proposed bonds are to be issued; and prior to the issuance of such bonds, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-145.htm - 1K - Match Info - Similar pages
11-54-23
Section 11-54-23 Requirements as to leasing of projects. (a) Prior to the leasing of any project, the governing body must determine and find the following: (1) The amount necessary in each year to pay the principal of and the interest on the bonds proposed to be issued to finance such project; (2) The amount necessary to be paid each year into any reserve funds which the governing body may deem it advisable to establish in connection with the retirement of the proposed bonds and the maintenance of the project; and, (3) The estimated cost of maintaining the project in good repair and keeping it properly insured, unless the terms under which the project is leased provide that the lessee shall maintain the project and carry all proper insurance with respect thereto. (b) The determinations and findings of the governing body required to be made by subsection (a) of this section shall be set forth in the proceedings under which the proposed bonds are to be issued; and, prior to the issuance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-23.htm - 2K - Match Info - Similar pages
11-55-10
Section 11-55-10 Requirements as to leases of projects. (a) Prior to the leasing of any project, the governing body must determine and find the following: (1) The amount necessary in each year to pay the principal of and the interest on the bonds proposed to be issued to finance such project; (2) The amount necessary to be paid each year into any reserve funds which the governing body may deem it advisable to establish in connection with the retirement of the proposed bonds and the maintenance of the project; and (3) The estimated cost of maintaining the project in good repair and keeping it properly insured, unless the terms under which the project is to be leased provide that the lessee shall maintain the project and carry all proper insurance with respect thereto. (b) The determinations and findings of the governing body required to be made by subsection (a) of this section shall be set forth in the proceedings under which the proposed bonds are to be issued; and, prior to the...
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27-15-73
Section 27-15-73 Computation of cash surrender value. (a) Any cash surrender value available under the policy in the event of default in the premium payment due on any policy anniversary, whether or not required by Section 27-15-72, shall be an amount not less than the excess, if any, of the present value on such anniversary of the future guaranteed benefits which would have been provided for by the policy, including any existing paid-up additions if there had been no default, over the sum of: (1) The then present value of the adjusted premium as defined in Sections 27-15-75, 27-15-76, 27-15-77, and 27-15-78, corresponding to premiums which would have fallen due on and after such anniversary. (2) The amount of any indebtedness to the insurer on account of or secured by the policy. (b) Provided, however, that for any policy issued on or after the operative date of Section 27-15-78, as defined therein, which provides supplemental life insurance or annuity benefits at the option of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-73.htm - 3K - Match Info - Similar pages
45-17-92
Section 45-17-92 Colbert County Tourism and Convention Bureau. (a) This section shall apply only in Colbert County. (b) The following words and terms as used in this section, shall have the meanings hereby ascribed to them: "the bureau" means the public corporation for which this section provides; "the board" means the board of directors of the authority for which this section provides. (c)(1) There is hereby established in the county a public corporation for the purposes herein specified, which corporation shall be vested with the powers conferred upon it by this section. The public corporation is at times hereinafter referred to as "the bureau." (2) Subject to the conditions and qualifications hereinafter stated, the name of the corporation shall be the Colbert County Tourism and Convention Bureau. (d)(1) The bureau shall be authorized and empowered to conduct programs, including but not limited to programs of information and publicity designed to attract conventions and tourism to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-17-92.htm - 6K - Match Info - Similar pages
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