|
27-10-32
Section 27-10-32 Revocation or suspension of surplus line broker's license. (a) The
commissioner may revoke or suspend any surplus line broker's license for any one or more of
the following: (1) If the broker fails to file an annual statement or to remit the tax as
required by law. (2) If the broker fails to keep the records or to allow the commissioner
to examine the broker's records as required by law. (3) For any of the causes for which a
producer's license may be revoked. (b) The commissioner may suspend or revoke the broker's
license if the commissioner finds that the broker has, willfully or without exercise of due
care, placed any insurance coverage with an unauthorized insurer in violation of any of the
requirements or conditions of Section 27-10-20. (c) The procedures and rights provided
by Section 27-7-19 as for the suspension or revocation of producers' licenses shall
be applicable to suspension or revocation of a surplus line broker's license. (d) No broker
whose license...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-32.htm - 1K - Match Info - Similar pages
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.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-30.htm - 1K - Match Info - Similar pages
27-10-55
Section 27-10-55 Exemptions. This Unauthorized Insurers Process Act shall not apply
as to surplus line insurance lawfully effectuated under this title nor to any action or proceeding
against an unauthorized insurer arising out of: (1) Wet marine and transportation insurance;
(2) Insurance on, or with respect to, subjects located, resident or to be performed wholly
outside this state or on, or with respect to, vehicles or aircraft owned and principally garaged
outside this state; (3) Insurance on property or operations of railroads engaged in interstate
commerce; or (4) Insurance on aircraft or cargo of such aircraft or against liability, other
than employer's liability, arising out of the ownership, maintenance, or use of such aircraft
where the policy or contract contains a provision designating the commissioner as its attorney
for the acceptance of service of lawful process in any action or proceeding instituted by,
or on behalf of, an insured or beneficiary arising out of any such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-55.htm - 1K - Match Info - Similar pages
27-31A-2
Section 27-31A-2 Definitions. As used in this chapter, the following terms shall have
the following meanings, respectively, unless the context clearly indicates otherwise: (1)
COMMISSIONER. The Insurance Commissioner of this state or the commissioner, director, or superintendent
of insurance in any other state. (2) COMPLETED OPERATIONS LIABILITY. Liability arising out
of the installation, maintenance, or repair of any product at a site which is not owned or
controlled by either of the following: a. Any person who performs that work. b. Any person
who hires an independent contractor to perform that work, but shall include liability for
activities which are completed or abandoned before the date of the occurrence giving rise
to the liability. (3) DOMICILE. For purposes of determining the state in which a purchasing
group is domiciled: a. For a corporation, the state in which the purchasing group is incorporated.
b. For an unincorporated entity, the state of its principal place of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31A-2.htm - 8K - Match Info - Similar pages
27-31A-12
Section 27-31A-12 Duty of producers to obtain license. (a) Risk retention groups. Persons
representing or aiding a risk retention group in the solicitation or negotiation of liability
insurance in this state and the risk retention group with respect thereto shall be subject
to Chapters 7 and 8A of this title. (b) Purchasing groups. (1) No person, firm, association,
or corporation shall act or aid in any manner in soliciting, negotiating, or procuring liability
insurance in this state for a purchasing group from an authorized insurer or a risk retention
group chartered in a state unless the person, firm, association, or corporation is licensed
as an insurance producer in accordance with Chapter 7, commencing with Section 27-7-1,
of this title. (2) No person, firm, association, or corporation shall act or aid in any manner
in soliciting, negotiating, or procuring liability insurance coverage in this state for any
member of a purchasing group under a purchasing group's policy unless that...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31A-12.htm - 2K - Match Info - Similar pages
27-7-4.3
Section 27-7-4.3 Licenses - Insurance producer examination. (a) A resident individual
applying for an insurance producer license shall pass a written examination unless exempt
pursuant to Section 27-7-5 or 27-7-29.1. The examination shall test the knowledge of
the individual concerning the lines of authority for which application is made, the duties
and responsibilities of an insurance producer, and the insurance laws and regulations of this
state. Examinations required by this section shall be developed and conducted under
rules and regulations prescribed by the commissioner. (b) The commissioner may make arrangements,
including contracting with an outside testing service, for administering examinations and
collecting the nonrefundable fee set forth in Section 27-4-2. (c) Each individual applying
for an examination shall remit a nonrefundable fee prescribed by the commissioner as set forth
in Section 27-4-2. (d) An individual who fails to appear for the examination as scheduled
or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-4.3.htm - 2K - Match Info - Similar pages
27-7-5
Section 27-7-5 Licenses - Qualifications. (a) An individual applying for a resident
insurance producer license shall make application to the commissioner on the Uniform Application,
and an individual applying for a service representative license shall make application to
the commissioner on the application prescribed by the commissioner, each declaring under penalty
of refusal, suspension, or revocation of the license that the statements made in the application
are true, correct, and complete to the best of the individual's knowledge and belief. Before
approving the application, the commissioner shall find that the individual has satisfied all
of the following: (1) The individual is at least 18 years of age. (2) The individual has not
committed any act that is a ground for denial, suspension, or revocation set forth in Section
27-7-19. (3) The individual has completed a prelicensing course of study for the lines of
authority for which the person has applied, consisting of 20 classroom...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-5.htm - 6K - Match Info - Similar pages
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
27-9A-8
Section 27-9A-8 Prelicensing course and examination. (a)(1) Every individual subject
to the examination required in subsection (b) shall first complete a prelicensing course consisting
of 20 classroom hours per line of authority, or equivalent individual instruction. (2) The
prelicensing course shall have been completed within 12 months before the date of the related
examination as shown on the certificate furnished by the prelicensing course provider. (3)
Every prelicensing course provider shall apply annually for the continued authority to issue
certificates of completion under rules to be prescribed by the commissioner. (4) At the time
of initial approval and annually thereafter, the commissioner shall collect from each prelicensing
course provider a fee set by the commissioner not to exceed one hundred dollars ($100). The
fee shall be deposited in the State Treasury to the credit of the Insurance Department Fund.
Public institutions shall be exempt from paying the fee, but shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-9A-8.htm - 3K - Match Info - Similar pages
27-4A-3
Section 27-4A-3 Generally. (a) Subject to the exceptions and exemptions hereinafter
set forth, for the year beginning on January 1, 1995, and for each year thereafter, every
insurer shall pay to the commissioner a premium tax equal to the percentage, as set out in
this subsection, of the premiums received by the insurer for business done in this state,
whether the same was actually received by the insurer in this state or elsewhere: (1) PREMIUM
TAX ON LIFE INSURANCE PREMIUMS. a. Except as hereinafter provided, the rates of taxation on
life insurance premiums shall be those amounts set out in the following schedule: Year Foreign
Insurers Domestic Insurers 1995 2.9 1.3 1996 2.8 1.6 1997 2.7 1.8 1998 2.5 2.1 Every Year
Thereafter 2.3 2.3 b. Individual life insurance policies in a face amount of greater than
$5,000 and up to and including $25,000, excluding group life insurance policies, shall be
taxed at the rate of one percent per annum. c. Individual life insurance policies in a face...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-4A-3.htm - 16K - Match Info - Similar pages
|