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10A-20-6.13
Section 10A-20-6.13 Deposit of securities with State Treasurer. Every health care service corporation
shall deposit with, and thereafter maintain on deposit with, the Treasurer of the State of
Alabama bonds of the United States government or of the State of Alabama, or of any subdivision
thereof, or first mortgages on real estate situated in Alabama securing an indebtedness not
in excess of 50 percent of the appraised value thereof, subject to the approval of the Commissioner
of Insurance, in an amount to be determined as of the first day of January of each year as
follows: (1) Every company whose gross annual premium receipts from business done within this
state for the preceding year ending December 31 are less than fifty thousand dollars ($50,000)
shall so deposit and maintain securities of par and market value not less than five thousand
dollars ($5,000); (2) Every company whose gross annual premium receipts so computed are in
excess of fifty thousand dollars ($50,000) and less...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-6.13.htm - 2K - Match Info - Similar pages
11-51-121
Section 11-51-121 Insurance companies - Insurance companies other than fire and marine insurance
companies. (a) No license or privilege tax or other charge for the privilege of doing business
shall be imposed by any municipal corporation upon any insurance company, other than fire
and marine insurance companies, doing business therein or its agents which shall exceed for
the company and its agents the following amounts: (1) Each insurance company in cities and
towns having a population of 5,000 or less, $10.00 and $1.00 on each $100.00 and major fraction
thereof of the gross premiums, less return premiums, received during the preceding year on
policies issued during said year to citizens of said cities and towns. (2) Each such insurance
company in cities and towns having a population of over 5,000 and not over 10,000, $15.00
and $1.00 on each $100.00 and major fraction thereof on gross premiums, less return premiums,
received during the preceding year on policies issued during said...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-51-121.htm - 4K - Match Info - Similar pages
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.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-3.htm - 1K - Match Info - Similar pages
27-3-14
Section 27-3-14 Deposit requirements - Alien insurers - Generally. (a) An alien insurer shall
not have authority to transact insurance in this state unless it has and maintains within
the United States as deposits with trustees, public depositaries or in trust institutions
approved by the commissioner under Section 27-3-15 assets available for discharge of its United
States insurance obligations, which assets shall be in amount not less than the outstanding
liabilities of the insurer arising out of its insurance transactions in the United States
together with the greater of the following sums: (1) The largest deposit required by Section
27-3-11 to be made by foreign insurers transacting like kinds of insurance; or (2) $300,000.00.
(b) Of the amount deposited by an alien insurer, an amount not less than that required under
subdivisions (a)(1) or (a)(2) of this section shall be deposited and maintained on deposit
in cash or securities eligible for deposit under Section 27-6-3 with the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-14.htm - 2K - Match Info - Similar pages
27-31A-10
Section 27-31A-10 Purchasing group taxation. Premium taxes and taxes on premiums paid for coverage
of risks resident, or located in this state by a purchasing group, or any members of the purchasing
groups shall be both: (1) Imposed at the same rate and subject to the same interest, fines,
and penalties as that applicable to premium taxes and taxes on premiums paid for similar coverage
from a similar insurance source by other insureds. (2) Paid first by the insurance source,
and if not by that source, by the agent or broker for the purchasing group, and if not by
the agent or broker then by the purchasing group, and if not by the purchasing group then
by each of its members. (Acts 1993, No. 93-674, p. 1226, §10.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31A-10.htm - 1K - Match Info - Similar pages
27-7-4
Section 27-7-4 Licenses - Requirement; forms. (a) No person shall in this state sell, solicit,
or negotiate insurance for any class or classes of insurance unless the person is then licensed
for that line of authority in accordance with this chapter. Any insurer accepting business
directly from a person not licensed for that line of authority and not appointed by the insurer
shall be liable to a fine up to three times the premium received from the person. (b) No producer
shall act on behalf of any insurer for which an appointment is not held under this chapter.
A producer who is not acting on behalf of an insurer is not required to become appointed.
For purposes of this section, a producer who refers business to an appointed producer pursuant
to Section 27-7-34 shall not be deemed to be acting on behalf of the insurer with whom the
business is placed, regardless of whether commissions on this business are shared. (c) The
commissioner shall prescribe and furnish on request all forms...
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27-8A-1
Section 27-8A-1 Continuing education requirements for insurance producers or service representatives.
(a) Any individual licensed in this state as an insurance producer or service representative
for the lines of insurance listed in subsection (b), and not exempt under subsection (c),
shall satisfactorily complete a minimum of 24 classroom hours of courses, programs of instruction,
or seminars as may be approved by the commissioner pursuant to this chapter, three hours of
which shall be on the topic of insurance producer ethics, reported to the commissioner on
a biennial basis in conjunction with the license renewal cycle. No person licensed for more
than one line of authority shall be required to complete a greater number of classroom hours
than is required of a person holding a license for a single line of authority. (b) This chapter
shall apply to all individuals licensed in this state as insurance producers and service representatives
for the following kinds of insurance: (1) The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-8A-1.htm - 3K - Match Info - Similar pages
10A-20-6.16
Section 10A-20-6.16 Applicability of insurance laws. (a) No statute of this state applying
to insurance companies shall be applicable to any corporation organized under this article
and amendments thereto or to any contract made by the corporation; except the corporation
shall be subject to the following: (1) The provisions regarding annual premium tax to be paid
by insurers on insurance premiums. (2) Chapter 55 of Title 27. (3) Article 2 and Article 3
of Chapter 19 of Title 27. (4) Section 27-1-17. (5) Chapter 56 of Title 27. (6) Rules promulgated
by the Commissioner of Insurance pursuant to Sections 27-7-43 and 27-7-44. (7) Chapter 54
of Title 27. (8) Chapter 57 of Title 27. (9) Chapter 58 of Title 27. (10) Chapter 59 of Title
27. (11) Chapter 54A of Title 27. (12) Chapter 12A of Title 27. (13) Chapter 2B of Title 27.
(14) Chapter 29 of Title 27. (15) Chapter 62 of Title 27. (b) The provisions in subsection
(a) that require specific types of coverage to be offered or provided shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-6.16.htm - 2K - Match Info - Similar pages
16-8-42.1
Section 16-8-42.1 Authority for risk management cooperative. (a) Definitions. For the purpose
of this section, the following terms shall have the meanings subscribed to them by this section:
(1) RISK MANAGEMENT COOPERATIVE. An entity or entities, to be formed by local boards of education
in any combination of 25 or more for the purpose of pooling resources and funds to jointly
purchase insurance or to self-insure such boards of education, their members and employees,
against risks to which they are exposed. (2) MEMBER BOARDS OF EDUCATION. A city board of education,
county board of education, Department of Youth Services School District, Alabama Institute
for Deaf and Blind, State Board of Education or other public education governing board which
elects to pool its resources and funds with one or more other boards of education for the
purpose of forming a risk management cooperative. (b) Boards of education in any combination
of 25 or more may establish a risk management cooperative for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-8-42.1.htm - 4K - Match Info - Similar pages
25-5-332
Section 25-5-332 Premium discount where drug-free workplace program implemented. (a) If an
employer implements a drug-free workplace program substantially in accordance with this article,
the employer shall qualify for certification for a five percent premium discount under the
employer's workers' compensation insurance policy. (b) For each policy of workers' compensation
insurance issued or renewed in the state on and after July 1, 1996, there shall be granted
by the insurer a five percent reduction in the premium for the policy if the insured has been
certified by the Department of Labor, Workers' Compensation Division, as having a drug-free
workplace program which complies with the requirements of this article and has notified its
insurer in writing of the certification. (c)(1) The premium discount provided by this section
shall be applied to an insured's policy of workers' compensation insurance pro rata as of
the date the insured receives certification by the Department of Labor,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-332.htm - 3K - Match Info - Similar pages
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