27-36A-20
Section 27-36A-20 Small company alternative valuation. (a) A company calculating reserves under this section shall calculate reserves for ordinary life insurance, accident and health insurance contracts, credit life contracts, group life contracts, annuities, or deposit-type contracts in this state as if the policies were issued before the operative date of the valuation manual. For such policies issued after the operative date of the valuation manual, any mortality and interest rates defined by the valuation manual for net premium reserves shall be used. A company calculating reserves under this section shall comply with Section 27-36A-4(a) instead of Section 27-36A-4(b) and meet all of the following conditions: (1) The company has less than three hundred million dollars ($300,000,000) of ordinary life premium. (2) If the company is a member of a group of life insurers, the group has combined ordinary life premium of less than six hundred million dollars ($600,000,000). (3) The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-20.htm - 3K - Match Info - Similar pages
27-13-38
Section 27-13-38 Prohibition against premiums not in accord with approved rating systems. No insurer, or employee thereof, and no broker or agent shall knowingly charge, demand, or receive a premium for any policy of insurance except in accordance with the respective rating systems on file with, and approved by, the commissioner. No insurer, or employee thereof, and no broker or agent shall pay, allow or give, or offer to pay, allow or give, directly or indirectly, as an inducement to insurance or after insurance has been effected, any rebate, discount, abatement, credit, or reduction of the premium named in a policy of insurance, or any special favor or advantage in the dividends, or other benefits to accrue thereon or any valuable consideration or inducement whatever not specified in the policy of insurance, except to the extent that such rebate, discount, abatement, credit, reduction, favor, advantage, or consideration may be provided for in rating systems filed by, or on behalf of,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-13-38.htm - 2K - Match Info - Similar pages
27-13-76
Section 27-13-76 Prohibition against premiums not in accord with approved rating systems. No insurer, or employee thereof, and no broker or agent shall knowingly charge, demand or receive a premium for any policy of insurance except in accordance with the respective rating systems on file with, and approved by, the commissioner. No insurer, or employee thereof, and no broker or agent shall pay, allow, or give, or offer to pay, allow, or give, directly or indirectly, as an inducement to insurance, or after insurance has been effected, any rebate, discount, abatement, credit, or reduction of the premium named in a policy of insurance, or any special favor or advantage in the dividends or other benefits to accrue thereon or any valuable consideration or inducement whatever not specified in the policy of insurance, except to the extent that such rebate, discount, abatement, credit, reduction, favor, advantage, or consideration may be provided for in rating systems filed by, or on behalf...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-13-76.htm - 2K - Match Info - Similar pages
15-13-217
Section 15-13-217 Examination; continuing education; certification; costs and fees. (a) A professional bondsman or recovery agent commencing business in any judicial circuit in this state on and after June 1, 2020, shall attend a 12-hour instructional course conducted by an educational provider approved by the board and pass an examination approved by the board and administered by an educational provider approved by the board. Upon completion of the course and passage of the examination, the individual shall be awarded an initial examination certificate by the board, copies of which may be submitted to the presiding circuit judge, or other judicial authority, along with the other requirements set forth in Section 15-13-159 or Section 15-13-160. Those professional bondsmen and recovery agents doing business immediately prior to June 1, 2020, are exempt from the initial 12-hour course and examination. (b) Unless exempted pursuant to subsection (i), a professional bondsman or recovery...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/15-13-217.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
16-25A-17.1
Section 16-25A-17.1 Assistance to low income employees and retirees. The board shall provide assistance to low income employees and retirees who meet the federal poverty levels defined in this section, effective October 1, 2005, and for each fiscal year thereafter. (1) For employees and retirees who contribute to the cost of their health insurance premium and with annual income (determined as provided below on an aggregate basis for an employee or retiree and spouse) equal to or below 300 percent of the federal poverty level, the employee or retiree contribution shall be reduced as follows: a. For employees or retirees with annual income equal to or less than 100 percent of the federal poverty level, the employee contribution will be calculated using 50 percent of the applicable premium. b. For employees or retirees with annual income equal to or less than 150 percent of the federal poverty level, but more than 100 percent of the federal poverty level, the employee contribution will be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25A-17.1.htm - 3K - Match Info - Similar pages
27-36A-7
Section 27-36A-7 Computation of minimum standard by calendar year of issue. (a) The interest rates used in determining the minimum standard for the valuation of the following shall be the calendar year statutory valuation interest rates as defined in this section: (1) Life insurance policies issued in a particular calendar year, on or after the operative date of Section 27-15-78. (2) Individual annuity and pure endowment contracts issued in a particular calendar year on or after January 1, 1982. (3) Annuities and pure endowments purchased in a particular calendar year on or after January 1, 1982, under group annuity and pure endowment contracts. (4) The net increase, if any, in a particular calendar year after January 1, 1982, in amounts held under guaranteed interest contracts. (b) Calendar year statutory valuation interest rates. (1) The calendar year statutory valuation interest rates, I, shall be determined as follows and the results rounded to the nearest one-quarter of one...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-7.htm - 12K - Match Info - Similar pages
36-1-6.2
Section 36-1-6.2 Insurance coverage for state instrumentalities and agencies; prior contracts and policies ratified. (a) Any instrumentality or agency of the State of Alabama, whose principal activity consists of distributing goods or services by contract with the United States, or any federal governmental corporation, and which are not covered by the provisions of Chapter 29 of this title, shall be subject to all the provisions of this section. Such instrumentality or agency is hereby empowered to purchase and pay for group health, accident or hospitalization insurance coverage for its officers and employees. Such instrumentality or agency is hereby further authorized to contract with the State Employees' Insurance Board for group health, accident or hospitalization insurance coverage, and under such terms, conditions, and costs as the State Employees' Insurance Board and the instrumentality or agency shall mutually determine. The cost or premium for such group health, accident or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-1-6.2.htm - 1K - Match Info - Similar pages
36-29-19.4
Section 36-29-19.4 Assistance to low income employees and retirees. The board shall provide assistance to low income employees and retirees who meet the federal poverty levels defined in this section, effective October 1, 2005, and for each fiscal year thereafter. (1) For employees and retirees who contribute to the cost of their health insurance premium and with annual income (determined as provided below on an aggregate basis for an employee or retiree and spouse) equal to or below 300 percent of the federal poverty level, the employee or retiree contribution shall be reduced as follows: a. For employees or retirees with annual income equal to or less than 100 percent of the federal poverty level, the employee contribution will be calculated using 50 percent of the applicable premium. b. For employees or retirees with annual income equal to or less than 150 percent of the federal poverty level, but more than 100 percent of the federal poverty level, the employee contribution shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-29-19.4.htm - 3K - Match Info - Similar pages
16-25A-45
Section 16-25A-45 Rules and regulations; contracts for services. The board shall promulgate rules and regulations to implement the flexible benefits program, including, but not limited to, setting policies and requirements concerning the administration of employee payments, amounts deducted pursuant to salary reduction agreements, and advances from the Public Employees' Health Insurance Plan and appropriations, if any. The board may contract for services with the Flexible Employees' Benefit Board for the first year of operation of the plan regarding pretax deductions for the payment of employee health insurance premium payments authorized by the board and may contract for services with the Flexible Employees' Benefit Board or other entities in subsequent years. The board may contract for necessary services to implement the flexible benefits program including, but not limited to, the administration of salary reduction agreements and non-health insurance premium components of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25A-45.htm - 1K - Match Info - Similar pages
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