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27-1-2
Section 27-1-2 Definitions. For the purposes of this title, the following terms shall have
the meanings respectively ascribed to them by this section. (1) INSURANCE. A contract whereby
one undertakes to indemnify another or pay or provide a specified amount or benefit upon determinable
contingencies. (2) INSURER. Every person engaged as indemnitor, surety, or contractor in the
business of entering into contracts of insurance. (3) PERSON. An individual, insurer, company,
association, organization, Lloyd's insurer, society, reciprocal insurer or interinsurance
exchange, partnership, syndicate, business trust, corporation, and every legal entity. (4)
COMMISSIONER. The Commissioner of Insurance of this state. (5) DEPARTMENT. The Department
of Insurance of this state. (6) DOMESTIC INSURER. One formed under the laws of this state.
(7) FOREIGN INSURER. One formed under the laws of any jurisdiction other than this state.
Except where distinguished by context, "foreign" insurers includes also...
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27-6-16
Section 27-6-16 Release of deposit - Filing of statement; authorization of release. (a) Before
authorizing the release of any deposit or excess portion thereof to the insurer, as provided
in Section 27-6-15, the commissioner shall require the insurer to file with him a statement
under its seal and the oath of its chief executive officer, or of its United States manager
in the case of an alien insurer, setting forth the facts upon which it bases its entitlement
to such release. (b) If release of the deposit is claimed by the insurer upon the ground that
its liabilities in this state, as to which the deposit was originally made and is held, have
been assumed by another insurer authorized to transact insurance in this state, the insurer
shall file with the commissioner a copy of the contract or agreement of such reinsurance.
(c) Upon being satisfied by such statement and such other information and evidence as he may
reasonably require and by such examination, if any, of the affairs of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6-16.htm - 1K - Match Info - Similar pages
6-12A-4
Section 6-12A-4 Agent for service of process. (a) Agent for service of process required. Any
non-resident or foreign non-participating manufacturer that has not registered to do business
in the state as a foreign corporation or business entity, as a condition precedent to having
its brand families listed or retained in the directory, shall appoint and continually engage
without interruption the services of an agent in this state to act as agent for the service
of process on whom all process, and any action or proceeding against it concerning or arising
out of the enforcement of this chapter and Section 6-12-3, may be served in any manner authorized
by law. The service shall constitute legal and valid service of process on the non-participating
manufacturer. The non-participating manufacturer shall provide the name, address, phone number,
and proof of the appointment and availability of their agent to and to the satisfaction of
the commissioner. (b) The non-participating manufacturer...
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27-31B-2
Section 27-31B-2 Definitions. As used in this chapter, the following terms shall have the following
meanings, unless the context clearly indicates otherwise: (1) AFFILIATED COMPANY. Any company
in the same corporate system as a parent, an industrial insured, or a member organization
by virtue of common ownership, control, operation, or management. (2) ALIEN CAPTIVE INSURANCE
COMPANY. Any insurance company formed to write insurance business for its parents and affiliates
and licensed pursuant to the laws of an alien jurisdiction which imposes statutory or regulatory
standards in a form acceptable to the commissioner on companies transacting the business of
insurance in that jurisdiction. (3) ASSOCIATION. Any legal association of individuals, corporations,
limited liability companies, partnerships, associations, or other entities whereby either
of the following exists: a. The member organizations of which, or the association itself,
whether or not in conjunction with some or all of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-2.htm - 10K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-24.htm - 5K - Match Info - Similar pages
27-29-10
Section 27-29-10 Violations and penalties; criminal proceedings. (a) Any insurer failing, without
just cause, to file any registration statement as required in this chapter shall be required,
after notice and hearing, to pay a penalty of up to one thousand dollars ($1,000) for each
day's delay, to be recovered by the commissioner and the penalty so recovered shall be paid
into the state General Fund. The maximum penalty under this section is fifty thousand dollars
($50,000). The commissioner may reduce the penalty if the commissioner, in the commissioner's
sole discretion, determines it is equitable to do so or the insurer demonstrates to the commissioner
that the imposition of the penalty would constitute a financial hardship to the insurer. (b)
Every director or officer of an insurance holding company system who knowingly violates, participates
in, or permits any of the officers or agents of the insurer to engage in transactions or make
investments that have not been properly...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-10.htm - 4K - 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
27-20-5
Section 27-20-5 Blanket disability insurance - Power to issue; filing requirement; mandatory
policy provisions. Any insurer authorized to write disability insurance in this state shall
have the power to issue blanket disability insurance. No such blanket policy may be issued
or delivered in this state unless a copy of the form thereof shall have been filed in accordance
with Section 27-14-8. Every such blanket policy shall contain provisions which, in the opinion
of the commissioner, are at least as favorable to the policyholder and the individual insured
as the following: (1) A provision that the policy, including endorsements and a copy of the
application, if any, of the policyholder and the persons insured shall constitute the entire
contract between the parties, and that any statement made by the policyholder or by a person
insured shall, in absence of fraud, be deemed a representation and not a warranty and that
no such statements shall be used in defense to a claim under the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-20-5.htm - 4K - Match Info - Similar pages
27-2B-9
Section 27-2B-9 Confidentiality of reports and plans; information sharing agreements; publication
of RBC levels prohibited; use of reports and plans by commissioner. (a) All RBC reports, to
the extent the information therein is not required to be set forth in a publicly available
annual statement schedule, and RBC plans, including the results or report of any examination
or analysis of an insurer performed pursuant hereto and any corrective order issued by the
commissioner pursuant to examination or analysis, with respect to any domestic insurer or
foreign insurer which are filed with the commissioner constitute information that may be damaging
to the insurer if made available to its competitors and therefore shall be kept confidential
by the commissioner. This information shall not be made public or be subject to subpoena,
other than by the commissioner, and then only for the purpose of enforcement actions taken
by the commissioner pursuant to this chapter or any other provision of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-2B-9.htm - 5K - Match Info - Similar pages
27-27-5
Section 27-27-5 Solicitation permit - Application. To apply for a solicitation permit, the
person shall: (1) File with the commissioner a request therefor showing: a. Name, type and
purpose of insurer, corporation, syndicate, association, firm, partnership, or organization
formed or proposed to be formed; b. Names, addresses, business background, and qualifications
of each person associated, or to be associated, in the enterprise or in the formation of the
proposed insurer, corporation, syndicate, association, firm, partnership, or organization;
c. Full disclosure of the terms of all pertinent understandings and agreements existing or
proposed among persons so associated; and copies of all such agreements, relative to the proposed
financing of the insurer, corporation, syndicate, association, firm, partnership, or organization,
or the formation thereof; d. The plan according to which solicitations are to be made; and
e. Such additional information as the commissioner may reasonably...
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