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27-10-30
Section 27-10-30 Annual statement of surplus line broker. (a) Each surplus line broker shall,
on or before the first day of March of each year, file with the commissioner a verified statement
of all surplus line insurance transacted by him during the preceding calendar year. (b) The
statement shall be on forms as prescribed and furnished by the commissioner and shall show:
(1) Gross amount of each kind of insurance transacted; (2) Aggregate gross premiums charged,
exclusive of sums collected to cover state or federal taxes; (3) Aggregate of returned premiums
and taxes paid to insureds; (4) Aggregate of net premiums; and (5) Additional information
as required by the commissioner. (Acts 1963, No. 521, p. 1112, §17; Acts 1971, No. 407, p.
707, §205.)...
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27-10-31
Section 27-10-31 Annual tax of surplus line brokers. (a) On or before the first day of March
each year, the surplus line broker shall remit to the State Treasurer through the commissioner,
as a tax imposed for the privilege of transacting business as a surplus line broker in this
state, a tax of six percent on the direct premiums, less return premiums and exclusive of
sums collected to cover state or federal taxes, on surplus line insurance subject to tax transacted
by the broker during the preceding calendar year as shown by the annual statement filed with
the commissioner. (b) The tax under the provisions of this section shall be subject to deduction
of the full amount of all expenses of examination of the surplus line broker by the commissioner
in the same manner as that allowed for domestic insurers for examination expenses under the
provisions of subdivision (5) of subsection (c) of Section 27-4A-3. All taxes collected under
this section shall be deposited in the State Treasury to...
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27-47-2
Section 27-47-2 Deduction for premiums paid for long-term care insurance contract; treatment
of contract; coverage. (a) The premiums paid for a long-term care insurance contract are deductible
pursuant to Section 40-18-15, if the contract meets the following requirements: (1) Offers
coverage only for qualified long-term care services and benefits incidental to the coverage.
(2) Guaranteed renewal. (3) No cash surrender value. (4) All refunds of premiums and all policyholder
dividends or similar amounts under the contract are to be applied as a reduction in future
premiums or to increase future benefits, except for a refund of premiums on surrender or cancellation
of the policy. (b) For purposes of this chapter, a long-term care insurance contract shall
be treated as an accident or health insurance contract. The amount of coverage under the long-term
care insurance contract shall be equal to or greater than Medicaid coverage for a period of
at least three years. (c) An insurance...
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27-14-19.1
Section 27-14-19.1 Electronic delivery of property or casualty insurance policy. (a) As used
in this section, each of the following words shall have the following meanings: (1) DELIVERED
BY ELECTRONIC MEANS or ELECTRONIC DELIVERY. Any of the following: a. Delivery to an electronic
mail address at which a party has consented to receive notices or documents. b. Posting on
an electronic network or site accessible via the Internet, mobile application, computer, mobile
device, tablet, or any other electronic device, together with separate notice of the posting
which shall be provided 1. by electronic mail to the address at which the party has consented
to receive notice or 2. by any other delivery method that has been consented to by the party.
(2) PARTY. A recipient of any notice or document required as part of an insurance transaction,
including, but not limited to, an applicant, an insured, a policyholder, or an annuity contract
holder. (b) Subject to the requirements of this section,...
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27-7-2
Section 27-7-2 Applicability of chapter. (a) This chapter governs the qualifications and procedures
for the licensing of insurance producers and service representatives. It simplifies and organizes
some statutory language to improve efficiency, permits the use of new technology, and reduces
costs associated with issuing and renewing insurance licenses. (b) This chapter does not apply
to surplus line brokers licensed pursuant to Section 27-10-24, except as provided in Section
27-7-28. (c) This chapter does not apply to title insurance. (Acts 1957, No. 530, p. 726,
§ 1; Acts 1971, No. 407, p. 707, § 113; Acts 1988, No. 88-123, p. 159, § 1; Act 2001-702,
p. 1509, § 1.)...
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27-10-3
Section 27-10-3 Actions by unauthorized insurers not allowed; exceptions. (a) No unauthorized
insurer shall institute or file, or cause to be instituted or filed, any action or proceeding
in this state to enforce any right, claim, or demand arising out of any insurance transaction
in this state until such insurer has obtained a certificate of authority to transact such
insurance in this state. (b) This section does not apply as to: (1) Transactions for which
a certificate of authority is not required; (2) Surplus line coverages written under this
chapter; or (3) Coverages exempted from the surplus line law under Section 27-10-34. (Acts
1963, No. 521, p. 1112, §6; Acts 1971, No. 407, p. 707, §193.)...
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27-40-12
Section 27-40-12 Return of gross unearned premiums upon cancellation of contract. (a) Whenever
a financed insurance contract is cancelled, the insurer shall return whatever gross unearned
premiums are due under the insurance contract to the premium finance company, either directly
or via the agent or surplus lines broker placing the insurance, for the account of the insured
or insureds as soon as reasonably possible, but in any event no later than 30 days after the
effective date of cancellation. (b) In the event that the crediting of return premiums to
the account of the insured results in a surplus over the amount due from the insured, the
premium finance company shall refund the excess to the insured or the agent or surplus lines
broker, within 30 days after receipt by the premium finance company with the check or draft
made payable to the agent or surplus lines broker and to the insured, provided that no refund
shall be required if it amounts to less than one dollar ($1). (Acts...
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10A-1-6.31
Section 10A-1-6.31 Insurance and other arrangements. (a) Notwithstanding any other provision
of this article, an enterprise may purchase or procure or establish and maintain insurance
or another arrangement to indemnify or hold harmless an existing or former governing person,
delegate, officer, employee, or agent against any liability: (1) asserted against and incurred
by the person in that capacity; or (2) arising out of the person's status in that capacity.
(b) The insurance or other arrangement established under subsection (a) may insure or indemnify
against the liability described by subsection (a) without regard to whether the enterprise
otherwise would have had the power to indemnify the person against that liability under this
chapter. (c) Insurance or another arrangement that involves self-insurance or an agreement
to indemnify made with the enterprise or a person that is not regularly engaged in the business
of providing insurance coverage may provide for payment of a...
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27-19-33
Section 27-19-33 Addition of endorsements or riders to existing policies. Any insurer writing
disability insurance policies may, with approval of the commissioner, add endorsements or
riders to existing policies of such insurance, with or without increase in premium, provided
there is shown separately on the endorsement or rider a stated premium charge for additional
coverage. (Acts 1957, No. 597, p. 834; Acts 1971, No. 407, p. 707, §453.)...
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27-34-45
Section 27-34-45 Misrepresentations. No person shall cause or permit to be made, issued, or
circulated in any form: (1) Any misrepresentation or false or misleading statement concerning
the terms, benefits, or advantages of any fraternal insurance contract now issued, or to be
issued, in this state or the financial condition of any society; (2) Any false or misleading
estimate or statement concerning the dividends or shares of surplus paid, or to be paid, by
any society on any insurance contract; or (3) Any incomplete comparison of an insurance contract
of one society with an insurance contract of another society or insurer for the purpose of
inducing the lapse, forfeiture, or surrender of any insurance contract. A comparison of insurance
contracts is incomplete: a. If it does not compare in detail: 1. The gross rates and the gross
rates less any dividend or other reduction allowed at the date of the comparison; and 2. Any
increase in cash values and all the benefits provided by each...
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