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27-31C-4
Section 27-31C-4 Issuance of license - Requirements. (a)(1) The commissioner may not issue
a license to an Alabama Coastal Captive Insurance Company unless the company possesses and
maintains unimpaired paid-in capital of not less than one million dollars ($1,000,000); however,
in the case of an Alabama Coastal Captive Insurance Company formed as a sponsored captive
insurance company that does not assume any risk, where the risks insured by the protected
cells are homogenous, the commissioner may reduce this amount to an amount not less than five
hundred thousand dollars ($500,000). (2) a. Except for an Alabama Coastal Captive Insurance
Company formed as a sponsored captive insurance company that does not assume any risk, the
capital must be in the form of cash, cash equivalent, or an irrevocable letter of credit issued
by a bank chartered by this state or a member bank of the Federal Reserve System with a branch
office in this state or as approved by the commissioner. b. For an...
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27-53-1
Section 27-53-1 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) GENETIC CHARACTERISTICS. A scientifically or medically identifiable gene or
chromosome, or alteration thereof, that is known to be a cause of a disease or disorder, or
determined to be associated with a statistically increased risk of development of a disease
or disorder. (2) GENETIC TEST. A pre-symptomatic laboratory test which is generally accepted
in the scientific and medical communities for the determination of the presence or absence
of the genetic characteristics that cause or are associated with risk of a disease or disorder.
(3) HEALTH BENEFIT PLAN. A health insurance policy, including a self-insured health plan,
that covers hospital, medical, or surgical expenses, health maintenance organizations, preferred
provider organizations, medical service organizations, physician-hospital organizations, or
any other person, firm, corporation, joint venture, or other similar...
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41-10-755
Section 41-10-755 Bonds of the authority. (a) General. The authority is authorized from time
to time to sell and issue its bonds for the purpose of providing funds to be transferred to
and deposited in the Alabama Trust Fund and the Rainy Day Account, to provide additional funds
to the Alabama Medicaid Agency, for paying the costs of transportation projects, and for the
purpose of refunding any or all of the authority's outstanding bonds. (b) Sources of payment.
Bonds issued by the authority shall be solely and exclusively an obligation of the authority
and shall not create an obligation or debt of the state. Such bonds shall not be general obligations
of the authority but shall be payable solely from one or more of the following sources: (1)
Appropriated funds. (2) The income or proceeds realized by the authority under any mortgage
or security granted to the authority. (3) Amounts derived from any letter of credit, insurance
policy, or other form of credit enhancement applicable to...
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43-8-253
Section 43-8-253 Effect of homicide on intestate succession, wills, joint assets, life insurance
and beneficiary designations; effect of bona fide purchase by third party or good faith payment
by obligor, etc. (a) A surviving spouse, heir or devisee who feloniously and intentionally
kills the decedent is not entitled to any benefits under the will or under articles 3 through
10 of this chapter, and the estate of decedent passes as if the killer had predeceased the
decedent. Property appointed by the will of the decedent to or for the benefit of the killer
passes as if the killer had predeceased the decedent. (b) Any joint tenant who feloniously
and intentionally kills another joint tenant thereby effects a severance of the interest of
the decedent so that the share of the decedent passes as his property and the killer has no
rights by survivorship. This provision applies to joint tenancies with the right of survivorship
and tenancies in common during the respective lives of the...
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19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred
by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions
to the trust property from a settlor or any other person, including, but not being limited
to, the authority to receive, collect, hold, and retain common or preferred stock or other
interests in the trustee or any related party; (2) acquire or sell property, for cash or on
credit, at public or private sale; (3) exchange, partition, or otherwise change the character
of trust property; (4) deposit trust money in an account in a regulated financial-service
institution; (5) borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust; (6) with respect to an
interest in a proprietorship, partnership, limited liability company, business trust, corporation,
or other form of business or enterprise, continue the business or other...
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25-5-8
Section 25-5-8 Employers' options to secure payment of compensation. (a) Option to insure risks.
An employer subject to this chapter may secure the payment of compensation under this chapter
by insuring and keeping insured his or her liability in some insurance corporation, association,
organization, insurance association, corporation, or association formed of employers and workers
or formed by a group of employers to insure the risks under this chapter, operating by mutual
assessment or other plans or otherwise. Notwithstanding the foregoing, the insurance association,
organization, or corporation shall have first had its contract and plan of business approved
in writing by the Commissioner of the Department of Insurance of Alabama and have been authorized
by the Department of Insurance to transact the business of workers' compensation insurance
in this state and under the plan. Notwithstanding any other provision of the law to the contrary,
the obligations of employers under law for...
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27-54-2
Section 27-54-2 Definitions. For purposes of this chapter, the following terms have the following
meanings: (1) DAY TREATMENT SERVICES. Includes, but is not limited to: Physiological, psychological,
and psychosocial concepts, techniques, and processes necessary to maintain or develop functional
skills of clients, provided to individuals and groups for periods of more than two hours but
less than 24 hours a day. (2) HEALTH BENEFIT PLAN. A health care service plan governed by
the provisions of Article 6, Chapter 4, Title 10, and a group health insurance policy, including
an employee welfare health benefit plan, that covers hospital, medical, or surgical expenses,
issued by insurers, health maintenance organizations, preferred provider organizations, medical
service organizations, physician-hospital organizations, or any other person, firm, corporation,
joint venture, or other similar business entity that pays for, purchases, or furnishes health
care services to patients, insureds, or...
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34-19-21
Section 34-19-21 Coverage or reimbursement for services not required. Nothing contained in
this chapter shall be construed to create a requirement that any health benefit plan, group
insurance plan, policy, or contract for health care services that covers hospital, medical,
or surgical expenses, health maintenance organizations, preferred provider organizations,
medical service organizations, physician-hospital organizations, or any other person, firm,
corporation, joint venture, or other similar business entity that pays for, purchases, or
furnishes group health care services to patients, insureds, or beneficiaries in this state,
including entities created pursuant to Article 6, commencing with Section 10A-20-6.01, of
Chapter 20, Title 10A, provide coverage or reimbursement for the services described or authorized
in this chapter. (Act 2017-383, ยง4.)...
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24-9-8
Section 24-9-8 Quiet title and foreclosure action. (a) The authority may initiate a quiet title
action under this section to quiet title to real property held by the authority or interests
in tax delinquent property held by the authority by recording with the office of the judge
of probate in the county in which the property subject to quiet title action is located a
notice of pending quiet title action. The notice shall include the name of the taxpayer whose
interest was affected by the tax sale; the name of any other party as revealed by a search
and examination of the title to the property who may claim an interest in the property; a
legal description of the property; the street address of the property if available; the name,
address, and telephone number of the authority; a statement that the property is subject to
the quiet title proceedings under Act 2013-249; and a statement that any legal interests in
the property may be extinguished by a circuit court order vesting title to...
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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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