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7-2-320
Section 7-2-320 C.I.F. and C. & F. terms. (1) The term C.I.F. means that the price
includes in a lump sum the cost of the goods and the insurance and freight to the named destination.
The term C. & F. or C.F. means that the price so includes cost and freight to the named
destination. (2) Unless otherwise agreed and even though used only in connection with the
stated price and destination, the term C.I.F. destination or its equivalent requires the seller
at his own expense and risk to: (a) Put the goods into the possession of a carrier at the
port for shipment and obtain a negotiable bill or bills of lading covering the entire transportation
to the named destination; and (b) Load the goods and obtain a receipt from the carrier (which
may be contained in the bill of lading) showing that the freight has been paid or provided
for; and (c) Obtain a policy or certificate of insurance, including any war risk insurance,
of a kind and on terms then current at the port of shipment in the usual...
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27-27-17
Section 27-27-17 Domestic mutual insurers - Solicitation of qualifying applications
for insurance. (a) Upon receipt of the commissioner's approval of the bond or deposit as provided
in Section 27-27-16 the directors and officers of the proposed domestic mutual insurer
may commence solicitation of such requisite applications for insurance policies as they may
accept and may receive deposits of premiums thereon. (b) All such applications shall be in
writing signed by the applicant, covering subjects of insurance resident, located or to be
performed in this state. (c) All such applications shall provide that: (1) Issuance of the
policy is contingent upon the insurer qualifying for and receiving a certificate of authority;
(2) No insurance is in effect unless and until the certificate of authority has been issued;
and (3) The prepaid premium or deposit and membership or policy fee, if any, shall be refunded
in full to the applicant if organization is not completed and the certificate of...
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27-27-18
Section 27-27-18 Domestic mutual insurers - Deposit in trust of premiums or fees on
qualifying applications. (a) All sums collected by a domestic mutual corporation as premiums
or fees on qualifying applications for insurance therein shall be deposited in trust in a
bank or trust company in this state under a written trust agreement approved by the commissioner
and consistent with this section and with subdivision (c) (3) of Section 27-27-17.
The corporation shall file an executed copy of such trust agreement with the commissioner.
(b) Upon issuance to the corporation of a certificate of authority as an insurer for the kind
of insurance for which such applications were solicited, all funds so held in trust shall
become the funds of the insurer, and the insurer shall, thereafter in due course, issue and
deliver its policies for which premiums had been paid and accepted. The insurance provided
by such policies shall be effective as of the date of the certificate of authority or...
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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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27-20-1
Section 27-20-1 Group disability insurance - Eligible groups. Group disability insurance
is hereby declared to be that form of disability insurance covering groups of persons as defined
in this section, with or without one or more members of their families or one or more
of their dependents, or covering one or more members of the families or one or more dependents
of such groups of persons, and issued upon the following basis: (1) Under a policy issued
to an employer or trustees of a fund established by an employer, who shall be deemed the policyholder,
insuring employees of such employer for the benefit of persons other than the employer. The
term "employees" as used in this subdivision shall be deemed to include the officers,
managers, and employees of the employer, the individual proprietor or partner if the employer
is an individual proprietor or partnership, the officers, managers, and employees of subsidiary
or affiliated corporations and the individual proprietors, partners, and...
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37-9-24
Section 37-9-24 Broker's licenses; bond or other security required of brokers; powers
of commission as to brokers' accounts, reports and records. (a) No person shall, for compensation,
sell or offer for sale transportation subject to this chapter or shall make any contract,
agreement or arrangement to provide, procure, furnish or arrange for such transportation or
shall hold himself or itself out by advertisement, solicitation or otherwise as one who sells,
provides, procures, contracts or arranges for such transportation, unless such person holds
a brokers license issued by the commission to engage in such transaction; provided, that no
such person shall engage in transportation subject to this chapter unless he or it holds a
certificate or permit as provided in this chapter. In the execution of any contract, agreement
or arrangement to sell, provide, procure, furnish or arrange for such transportation, it shall
be unlawful for such person to employ any air carrier who, or which, is...
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27-10-24
Section 27-10-24 Licensing of surplus line brokers. (a) Any person, while licensed as
a resident insurance producer in this state for the property lines of authority and who is
deemed by the commissioner to have had sufficient experience in the insurance business to
be competent for the purpose may be licensed as a surplus line broker for the types and kinds
of insurance that he or she as a resident producer is licensed to handle as follows: (1) Application
to the commissioner for the license shall be made on forms as designated and furnished by
the commissioner. (2) License fee in the amount stated in Section 27-4-2 shall be paid
to the commissioner. The license shall expire on December 31 next after its issue. (3) Prior
to the issuance of the license, the applicant shall file with the commissioner, and thereafter
for as long as any license remains in effect he or she shall keep in force and unimpaired,
a bond in favor of the State of Alabama in the penal sum of at least fifty...
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27-23-21
Section 27-23-21 Reasons for cancellation. (a) No notice of cancellation of a policy
of automobile liability insurance shall be effective unless it is based on one or more of
the following reasons: (1) Nonpayment of premium; (2) The policy was obtained through a material
misrepresentation; (3) Any insured violated any of the terms and conditions of the policy;
(4) The named insured failed to disclose fully his motor vehicle accidents and moving traffic
violations for the preceding 36 months if called for in the application; (5) The named insured
failed to disclose in his written application or in response to inquiry by his broker, or
by the insurer or its agent information necessary for the acceptance or proper rating of the
risk; (6) Any insured made a false or fraudulent claim or knowingly aided or abetted another
in the presentation of such a claim; (7) Failure to maintain membership in any group or organization
when such membership is a prerequisite to the purchase of such...
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16-22-4.1
Section 16-22-4.1 Education employee liability insurance; self-insurance. (a) For the
purposes of this section, the following terms shall have the following meanings: (1)
CERTIFICATED PERSONNEL. Full-time teachers, principals, and other education employees employed
by a local board of education and required to hold a certificate issued by the State Superintendent
of Education. (2) LOCAL BOARD OF EDUCATION. A city or county board of education, the Board
of Trustees of the Alabama Institute for Deaf and Blind, the Alabama Youth Services Board
in its capacity as the Board of Education for the Youth Services School District, the Board
of Directors of the Alabama School of Fine Arts, and the Board of Directors of the Alabama
School of Mathematics and Science. (3) STUDENT TEACHER. A college or university student in
an education degree program who, as part of the degree program, is assigned to teach in a
local public school classroom, is providing instruction to students, and is being...
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27-31B-3
Section 27-31B-3 Licensing. (a) Any captive insurance company, when permitted by its
articles of association, charter, or other organizational document, may apply to the commissioner
for a license to do any and all insurance defined in Sections 27-5-2, 27-5-4, and 27-5-5,
in subdivisions (1), (2), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), and (14) of
subsection (a) of Section 27-5-6, in Sections 27-5-7, 27-5-8, 27-5-9, and 27-5-10,
and to grant annuity contracts as defined in Section 27-5-3, subject, however, to all
of the following: (1) No pure captive insurance company may insure any risks other than those
of its parent and affiliated companies or controlled unaffiliated business. (2) No association
captive insurance company may insure any risks other than those of the member organizations
of its association, and their affiliated companies. (3) No industrial insured captive insurance
company may insure any risks other than those of the industrial insureds that comprise...
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