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16-25A-8
Section 16-25A-8 Funding of health insurance plan; participation; Public Education Employees'
Health Insurance Fund. (a) The Public Education Employees' Health Insurance Board is hereby
authorized to provide under the contract or contracts entered into under the provisions of
this article an insurance benefit plan for each covered employee and, under certain conditions,
retired employees; the cost of such plan may be funded in part or in full through monthly
premiums per active employee from the same source of funds as those used for the payment of
salaries of active members and in part from other funds. (b) On or before January 1 next preceding
each regular meeting of the Legislature, the board shall certify to the Governor and to the
Legislature the amount or amounts necessary to fund coverage for benefits authorized by this
article for the following fiscal year for employees and for retired employees as a monthly
premium per active member per month. The Legislature shall set the...
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27-1-24
Section 27-1-24 Alabama Insurance Underwriting Association. (a) Every insurer authorized
to write and engaged in writing, on a direct basis, fire and extended coverage insurance in
Alabama shall be and remain a member of the Alabama Insurance Underwriting Association, an
unincorporated nonprofit joint underwriting association organized in 1970 and in continuous
existence from 1970 through November 1, 2008. Every such insurer shall be and remain a member
of the association so long as the association is in existence as a condition of such insurer's
authority to continue to transact the business of insurance in Alabama. An insurer that ceases
to be a member of the association due to withdrawal from the business of insurance in Alabama
or its withdrawal from writing fire and extended coverage insurance in Alabama remains liable
to the association as to contracts entered into during the insurer's membership in the association
to the same extent and effect as if the insurer's membership in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-1-24.htm - 3K - Match Info - Similar pages
27-31-28
Section 27-31-28 Merger or conversion of domestic insurer. (a) A domestic reciprocal
insurer, upon affirmative vote of not less than two thirds of its subscribers who vote on
such merger, pursuant to due notice and the approval of the commissioner of the terms therefor,
may merge with another reciprocal insurer or be converted to a stock or mutual insurer. (b)
Such a stock or mutual insurer shall be subject to the same capital or surplus requirements
and shall have the same rights as a like domestic insurer transacting like kinds of insurance.
(c) The commissioner shall not approve any plan for such merger or conversion which is inequitable
to subscribers or which, if for conversion to a stock insurer, does not give each subscriber
preferential right to acquire stock of the proposed insurer proportionate to his interest
in the reciprocal insurer, as determined in accordance with Section 27-31-27 and a
reasonable length of time within which to exercise such right. (Acts 1971, No. 407,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31-28.htm - 1K - Match Info - Similar pages
27-40-9
Section 27-40-9 Service charges; prepayment of obligation. (a) For the purpose of this
section, "consumer insurance premium finance agreement" means an insurance
premium finance agreement as defined in Section 27-40-1 wherein the insurance contracts
which are the subject of the premium finance agreement are for personal, family, or household
purposes or where the premiums for those agreements are two thousand dollars ($2,000) or less.
For the purpose of this section, "commercial premium finance agreement" means
any insurance premium finance agreement other than a consumer premium finance agreement. (b)
A premium finance company shall not charge, contract for, receive, or collect a service charge
other than in accordance with the following provisions: (1) The service charge is to be computed
on the balance of the premium due, after subtracting the down payment made by the insured
in accordance with the premium finance agreement, from the effective date of the insurance
for which the...
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27-41-6
Section 27-41-6 Limitations upon investments generally. (a) An insurer shall not have
at any one time any single investment or combination of investments in or loans upon the security
of the obligations, property, or securities of any one person aggregating in cost to the insurer
in excess of the greater of 10 percent of such insurer's assets or the total of its capital
and surplus, as shown in the latest annual report of the insurer filed pursuant to subsection
(a) of Section 27-3-26 of the Alabama Insurance Code, less the minimum capital and
surplus required of said insurer for authority to transact insurance by Sections 27-3-7 and
27-3-8 of the Alabama Insurance Code. The restriction of this subsection shall not apply to
evidences of indebtedness issued, assumed, or guaranteed by the United States of America or
any department, agency, or instrumentality thereof or by any state of the United States. (b)
An insurer shall at all times invest and maintain invested funds in cash and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-6.htm - 2K - Match Info - Similar pages
27-44-8
Section 27-44-8 Powers and duties of association. (a) If a member insurer is an impaired
insurer, the association may, in its discretion and subject to any conditions imposed by the
association that do not impair the contractual obligations of the impaired insurer, and that
are approved by the commissioner: (1) Guarantee or reinsure, or cause to be guaranteed, assumed,
or reinsured, any or all of the covered policies of the impaired insurers. (2) Provide such
moneys, pledges, notes, guarantees, or other means as are proper to effectuate subdivision
(1), and assure payment of the contractual obligations of the impaired insurer pending action
under subdivision (1). (b) If a member insurer is an insolvent insurer, the association shall,
in its discretion and subject to the approval of the commissioner, do either of the following:
(1)a. Guarantee, assume, or reinsure, or cause to be guaranteed, assumed, or reinsured, the
covered policies of the insolvent insurer. b. Assure payment of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-8.htm - 24K - Match Info - Similar pages
45-47A-110
Section 45-47A-110 Theater board. (a)(1) The City Council of Winfield in Marion County
may create a theater board to oversee the maintenance and operation of the Pastime Theater.
(2) The board shall be composed of seven members appointed by the city council. The members
of the board shall elect a chair. In the event of any vacancy on the board, the city council
shall appoint a person to fill the vacancy. (3) The members of the board shall serve for three-year
terms with the first terms being staggered by the council. (4) The board shall have all of
the following duties: a. Handle the day-to-day operation of the theater. b. Enter into contracts
on behalf of the theater and schedule events on behalf of the theater. c.1. No later than
September 1 of each year, prepare a detailed budget on an annual basis for review and approval
by the city council. 2. Any expenditures in excess of the budget shall be presented to the
city council for review and approval prior to the expenditure being...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-47A-110.htm - 2K - Match Info - Similar pages
22-21-372
Section 22-21-372 Filing and approval of subscription rates; criteria; submission of
relevant information. (a) No contract providing dental service corporation benefits may be
executed in this state unless the subscription rates outlined in said contract have been filed
with and approved by the commissioner. (b) Subscription rates must be established and justified
in accordance with generally accepted insurance principles, including but not limited to the
experience or judgment of the corporation making the rate filing or actuarial computations.
(c) The commissioner may disapprove subscription rates that are excessive, inadequate or unfairly
discriminatory. Rates are not unfairly discriminatory because they are averaged broadly among
persons covered under group, blanket or franchise contracts. (d) The commissioner may require
the submission of whatever relevant information is deemed necessary in determining whether
to approve or disapprove a filing made under this section or Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-372.htm - 1K - Match Info - Similar pages
27-36-1
Section 27-36-1 Liabilities generally. In any determination of the financial condition
of an insurer, capital stock and liabilities to be charged against its assets shall include:
(1) The amount of its capital stock outstanding, if any; (2) The amount, estimated consistent
with the provisions of this title, necessary to pay all of its unpaid losses and claims incurred
on or prior to the date of statement, whether reported or unreported, together with the expenses
of adjustment or settlement thereof; (3) With reference to life and disability insurance and
annuity contracts: a. The amount of reserves on life insurance policies and annuity contracts
in force, valued according to the tables of mortality, rates of interest, and methods adopted
pursuant to this title which are applicable thereto; b. Reserves for disability benefits,
for both active and disabled lives; c. Reserves for accidental death benefits; and d. Any
additional reserves which may be required by the commissioner...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36-1.htm - 2K - Match Info - Similar pages
40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a)
Purchasers, holders of security interests, mechanic's lienors, and judgment lien creditors.
The lien imposed by Section 40-29-20 shall not be valid as against any purchaser, holder
of a security interest, mechanic's lienor, or judgment lien creditor until notice thereof
which meets the requirements of subsection (f) has been filed by the Commissioner of Revenue
or his delegate, and shall not be perfected as against any purchaser, holder of a security
interest, mechanic's lienor, or judgment lien creditor until the date such notice is filed.
(b) Protection for certain interest even though notice filed. Even though notice of a lien
imposed by Section 40-29-20 has been filed, such lien shall not be valid: (1) SECURITIES.
With respect to a security (as defined in subsection (g)(4)): a. As against a purchaser of
such security who at the time of purchase did not have actual notice or knowledge of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-29-22.htm - 17K - Match Info - Similar pages
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