32-7-23
Section 32-7-23 Uninsured motorist coverage; "uninsured motorist" defined; limitation on recovery. (a) No automobile liability or motor vehicle liability policy insuring against loss resulting from liability imposed by law for bodily injury or death suffered by any person arising out of the ownership, maintenance, or use of a motor vehicle shall be delivered or issued for delivery in this state with respect to any motor vehicle registered or principally garaged in this state unless coverage is provided therein or supplemental thereto, in limits for bodily injury or death set forth in subsection (c) of Section 32-7-6, under provisions approved by the Commissioner of Insurance for the protection of persons insured thereunder who are legally entitled to recover damages from owners or operators of uninsured motor vehicles because of bodily injury, sickness or disease, including death, resulting therefrom; provided, that the named insured shall have the right to reject such coverage; and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7-23.htm - 2K - Match Info - Similar pages
27-42-5
Section 27-42-5 Definitions. As used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) ACCOUNT. Any one of the three accounts created by Section 27-42-6. (2) AFFILIATE. A person who directly, or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with another person on December 31 of the year immediately preceding the date the insurer becomes an insolvent insurer. (3) ASSOCIATION. The Alabama Insurance Guaranty Association created under Section 27-42-6. (4) CLAIMANT. Any insured making a first party claim or any person instituting a liability claim. The term does not include a person who is an affiliate of an insolvent insurer. (5) COMMISSIONER. The Commissioner of Insurance of the State of Alabama. (6) CONTROL. The possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-42-5.htm - 5K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7-22.htm - 5K - Match Info - Similar pages
27-22-1
Section 27-22-1 Insurance of building in name of less than all owners. As to every insurance contract insuring any dwelling or other building and written in the name of less than all of the joint owners or tenants in common, with or without survivorship, if such joint tenants or tenants in common are husband and wife, it shall not be a defense against liability under the policy that all the joint owners or tenants in common were not named as the insured therein, nor will the amount due in event of loss be diminished on such account unless, by special endorsement of the policy, the insurer's liability is limited to the interest of the named insured. (Acts 1951, No. 781, p. 1376; Acts 1971, No. 407, p. 707, ยง482.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-22-1.htm - 1K - Match Info - Similar pages
27-9A-12
Section 27-9A-12 License denial, non-renewal, or revocation. (a) The commissioner may place on probation, suspend, revoke, or refuse to issue or renew an independent adjuster's license, an apprentice independent adjuster's license, or the registration of an emergency independent adjuster, or may levy a civil penalty in accordance with subsection (d), or any combination of these actions, for any one or more of the following causes: (1) Providing incorrect, misleading, incomplete, or materially untrue information in the license application. (2) Violating any insurance laws, rules, subpoena, or order of the commissioner or of another state's insurance regulator. (3) Obtaining or attempting to obtain a license or registration through misrepresentation or fraud. (4) Improperly withholding, misappropriating, or converting any monies or properties received in the course of acting as an adjuster of any type or in otherwise doing insurance business in this state or elsewhere. (5) Intentionally...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-9A-12.htm - 4K - Match Info - Similar pages
5-19-20
Section 5-19-20 Insurance. (a) With respect to any consumer credit transaction, the creditor shall not require any insurance other than insurance against loss of or damage to any property in which the creditor is given a security interest and insurance insuring the lien of the creditor on the property which is collateral for the transaction. (b) (1) Credit life and disability and involuntary unemployment insurance may be offered and, if accepted, may be provided by the creditor. The charge to the debtor for the insurance shall not exceed the premium permitted for the coverages. Insurance with respect to any credit transaction shall not exceed the approximate amount and term of the credit. (2) This subdivision (2) applies to all consumer credit transactions entered into on or after June 19, 1996. If the consumer credit transaction is scheduled to be repaid in substantially equal installments which include a portion of the amount financed, the amount of credit life insurance at any time...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-19-20.htm - 5K - Match Info - Similar pages
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)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-12-13.htm - 2K - Match Info - Similar pages
27-15-78
Section 27-15-78 Calculations of adjusted premiums by the nonforfeiture net level premium method. (a) This section shall apply to all policies issued on or after the operative date of this section as defined herein. Except as provided in subsection (g), the adjusted premiums for any policy shall be calculated on an annual basis and shall be such uniform percentage of the respective premiums specified in the policy for each policy year, excluding extra premiums on a substandard policy and also excluding any uniform annual contract charge or policy fee specified in the policy in a statement of the method to be used in calculating the cash surrender values and paid-up nonforfeiture benefits, that the present value, at the date of issue of the policy, of all adjusted premiums shall be equal to the sum of: (1) The then present value of the future guaranteed benefits provided for by the policy. (2) One percent of either the amount of insurance, if the insurance be uniform in amount, or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-78.htm - 12K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-25-3.htm - 5K - Match Info - Similar pages
27-60-2
Section 27-60-2 Interstate Insurance Product Regulation Compact. The State of Alabama hereby agrees to the following interstate compact known as the Interstate Insurance Product Regulation Compact: ARTICLE I. PURPOSES. The purposes of this compact are, through means of joint and cooperative action among the compacting states: 1. To promote and protect the interest of consumers of individual and group annuity, life insurance, disability income, and long-term care insurance products; 2. To develop uniform standards for insurance products covered under the compact; 3. To establish a central clearinghouse to receive and provide prompt review of insurance products covered under the compact and, in certain cases, advertisements related thereto, submitted by insurers authorized to do business in one or more compacting states; 4. To give appropriate regulatory approval to those product filings and advertisements satisfying the applicable uniform standard; 5. To improve coordination of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-60-2.htm - 45K - Match Info - Similar pages
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