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27-31D-1
Section 27-31D-1 Premium discount or insurance rate reduction - Construction and certification.
(a) Commencing on May 14, 2009, insurance companies shall provide a premium discount or insurance
rate reduction in an amount and manner as established in subsection (j) and pursuant to Section
27-31D-3. In addition, insurance companies may also offer additional adjustments in deductible,
other credit rate differentials, or a combination thereof, collectively referred to as adjustments.
These adjustments shall be available under the terms specified in this section to any owner
who builds or locates a new insurable property, in the State of Alabama, to resist loss due
to hurricane or other catastrophic windstorm events. (b) To obtain the adjustment provided
in this section, an insurable property located in this state shall be certified as constructed
in accordance with either of the following: (1) The 2006 International Residential Code, as
amended, including all hurricane mitigation...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31D-1.htm - 4K - Match Info - Similar pages
27-31D-2
Section 27-31D-2 Premium discount or insurance rate reduction - Fortified existing homes. (a)
Commencing on May 14, 2009, insurance companies shall provide a premium discount or insurance
rate reduction in an amount and manner as established in subsection (g) and pursuant to Section
27-31D-3. In addition, insurance companies may also offer additional adjustments in deductible,
other credit rate differentials, or a combination thereof, collectively referred to as adjustments.
These adjustments shall be available under the terms specified in this section to any owner
who retrofits his or her insurable property located in the State of Alabama to resist loss
due to hurricane or other catastrophic windstorm events. (b) To obtain the adjustment provided
in this section, an insurable property shall be retrofitted to any of the following: (1) The
Fortified Home: Hurricane Standards (FHH), or the Fortified Home: Highwind and Hail Standards
(FHWH) requirements as may from time to time be adopted...
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35-12-72
Section 35-12-72 Presumption of abandonment. (a) Property is presumed abandoned if it is unclaimed
by the apparent owner during the time set forth below for the particular property: (1) Traveler's
checks, 15 years after issuance. (2) Money order, five years after issuance. (3) A demand,
savings, or time deposit including a deposit that is automatically renewable, three years
after the earlier of maturity, as extended from time to time, or the date of the last indication
by the apparent owner of interest in the property. (4) Tangible and intangible property held
in a safe deposit box or other safekeeping depository in this state in the ordinary course
of the holder's business and proceeds resulting from the sale of the property permitted by
other law, three years after expiration of the lease or rental period on the box or other
depository. (5) Money or credits owed to a customer as a result of a retail business transaction,
one year after the obligation accrued. (6) Property in an...
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27-34-30
Section 27-34-30 Life benefit certificate - Filing with commissioner; standard provisions.
(a) After January 1, 1973, no life benefit certificate shall be delivered, or issued for delivery,
in this state unless a copy of the form has been filed with the commissioner. (b) The certificate
shall contain in substance the following standard provisions or, in lieu thereof, provisions
which are more favorable to the member: (1) Title on the face and filing page of the certificate
clearly and correctly describing its form; (2) A provision stating the amount of rates, premiums,
or other required contributions, by whatever name known, which are payable by the insured
under the certificate; (3) A provision that the member is entitled to a grace period of not
less than a full month, or 30 days at the option of the society, in which the payment of any
premium after the first may be made. During such grace period the certificate shall continue
in full force, but in case the certificate becomes a...
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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
37-9-28
Section 37-9-28 Duties of air carriers as to service, facilities, etc.; undue preferences and
advantages prohibited; extension of credit; commission to establish, enforce, etc., reasonable
rates, fares, etc.; proceedings as to validity of rates, fares, etc.; authority to prescribe
service and rates, fares, etc.; time tables. (a) It shall be the duty of every common carrier
by aircraft to provide and furnish intrastate transportation, as authorized by its certificate,
upon reasonable request to have and to provide reasonable through intrastate service in such
transportation in connection with other such carriers or with common carriers by railroad,
motor vehicles, express or water; to provide adequate and reasonable service, equipment, facilities,
waiting rooms and rest rooms, in connection with such transportation; to establish, observe
and enforce just and reasonable individual and joint rates, fares and charges and just and
reasonable classifications, rules, regulations and practices...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-9-28.htm - 11K - Match Info - Similar pages
27-29-3.1
Section 27-29-3.1 Acquisition involving change in control of insurer authorized to do business
in Alabama; pre-acquisition notification; violation of competitive standards. (a) The following
definitions shall apply for the purposes of this section only: (1) ACQUISITION. Any agreement
or arrangement the consummation of which results in a person acquiring directly or indirectly
the control of another person, and includes, but is not limited to, the acquisition of voting
securities, the acquisition of assets, bulk reinsurance, and mergers. (2) INVOLVED INSURER.
Includes an insurer which either acquires or is acquired, is affiliated with an acquirer or
acquired, or is the result of a merger. (b)(1) Except as exempted in subdivision (2), this
section applies to any acquisition in which there is a change in control of an insurer authorized
to do business in this state. (2) This section shall not apply to the following: a. A purchase
of securities solely for investment purposes so long as the...
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27-7-1
Section 27-7-1 Definitions. For the purposes of this chapter, the following terms shall have
the meanings respectively ascribed to them by this section: (1) BUSINESS ENTITY. A corporation,
association, partnership, limited liability company, limited liability partnership, or other
legal entity. (2) COMMISSIONER. The Alabama Commissioner of Insurance. (3) HOME STATE. The
District of Columbia and any state or territory of the United States in which an insurance
producer maintains his or her principal place of residence or principal place of business
and is licensed to act as an insurance producer. (4) INSURANCE. As defined in Section 27-1-2.
(5) INSURANCE PRODUCER or PRODUCER. A person required to be licensed under the laws of this
state to sell, solicit, or negotiate insurance. (6) INSURER. As defined in Section 27-1-2.
For the purposes of this chapter, insurer shall also mean an insurance company licensed pursuant
to Chapter 3, commencing with Section 27-3-1 of this title; a health...
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27-5A-7
Section 27-5A-7 Required contract provisions; reinsurance intermediary-managers. Transactions
between a reinsurance intermediary-manager and the reinsurer it represents in that capacity
shall only be entered into pursuant to a written contract, specifying the responsibilities
of each party, which shall be approved by the reinsurer's board of directors. At least 30
days before a reinsurer assumes or cedes business through a producer, a true copy of the approved
contract shall be filed with the commissioner for approval. The contract shall, at a minimum,
provide that: (1) The reinsurer may terminate the contract for cause upon written notice to
the reinsurance intermediary-manager. The reinsurer may immediately suspend the authority
of the reinsurance intermediary-manager to assume or cede business during the pendency of
any dispute regarding the cause for termination. (2) The reinsurance intermediary-manager
shall render accounts to the reinsurer accurately detailing all material...
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5-5A-44
Section 5-5A-44 Acquisition of majority of voting shares of a bank; procedure. (a) No person,
acting directly or indirectly or through or in concert with one or more persons, may acquire
control of a state bank or of any corporation or other entity having control of a state bank,
unless an application is filed with the superintendent for review of the proposed transaction
and for his or her action, if any, as provided in this section. (b) The application shall
be on a form prescribed by the superintendent and shall be made under oath. The application
must contain all information that the superintendent by regulation requires to be furnished
in an application, as well as any information that the superintendent orders to be included
in the particular application being filed and shall be accompanied by the filing fee prescribed
by the Banking Board. For the purposes of this section, the Banking Board may reduce or waive
any prescribed fees for applications where a change of control...
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