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27-29-3
Section 27-29-3 Acquisition of control of, or merger with, domestic insurers. (a)(1) No person
other than the issuer shall make a tender offer for or a request or invitation for tenders
of, or enter into any agreement to exchange securities for, seek to acquire, or acquire in
the open market any voting security of a domestic insurer if, after the consummation thereof,
such person would, directly or indirectly, or by conversion or by exercise of any right to
acquire, be in control of such insurer, and no person shall enter into an agreement to merge
with or otherwise to acquire control of a domestic insurer, or any person controlling a domestic
insurer unless, at the time any such offer, request, or invitation is made or any such agreement
is entered into, or prior to the acquisition of such securities if no offer or agreement is
involved such person has filed with the commissioner and has sent to such insurer a statement
containing the information required by this section and such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-3.htm - 17K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-44.htm - 11K - Match Info - Similar pages
8-20-4
Section 8-20-4 Unfair and deceptive trade practices. Notwithstanding the terms, provisions,
or conditions of any dealer agreement or franchise or the terms or provisions of any waiver,
prior to the termination, cancellation, or nonrenewal of any dealer agreement or franchise,
the following acts or conduct shall constitute unfair and deceptive trade practices: (1) For
any manufacturer, factory branch, factory representative, distributor, or wholesaler, distributor
branch, or distributor representative to coerce or attempt to coerce any motor vehicle dealer
to do any of the following: a. To accept, buy, or order any motor vehicle or vehicles, appliances,
equipment, parts, or accessories therefor, or any other commodity or commodities or service
or services which such motor vehicle dealer has not voluntarily ordered or requested except
items required by applicable local, state, or federal law; or to require a motor vehicle dealer
to accept, buy, order, or purchase such items in order to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-20-4.htm - 34K - Match Info - Similar pages
27-13-1
Section 27-13-1 Purpose of chapter; construction thereof. The purpose of this chapter is to
promote the public welfare by regulating insurance rates to the end that they shall not be
excessive, inadequate or unfairly discriminatory and to authorize and regulate cooperative
action among insurers in rate-making and in other matters within the scope of this chapter.
Nothing in this chapter is intended: (1) To prohibit or discourage reasonable competition;
or (2) Prohibit or encourage, except to the extent necessary to accomplish the aforementioned
purpose, uniformity in insurance rates, rating systems, rating plans, or practices. This chapter
shall be liberally interpreted to carry into effect the provisions of this section. (Acts
1971, No. 407, p. 707, §250.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-13-1.htm - 1K - Match Info - Similar pages
27-13-27
Section 27-13-27 Rate-making and making rating systems. Every rating organization and every
insurer which makes its own rates shall make rates that are not unreasonably high or inadequate
for the safety and soundness of the insurer and which do not unfairly discriminate between
risks in this state involving essentially the same hazards and shall, in rate-making and in
making rating systems: (1) Adopt basis classifications, which shall be used as the basis of
all manual, minimum, class, schedule, or experience rates; (2) Adopt reasonable standards
for construction, for protective facilities and for other conditions that materially affect
the hazard or peril, which shall be applied in the determination or fixing of rates; (3) Give
consideration to past experience within the state and without the state when necessary, and
due consideration may be given to prospective loss experience within the state and without
the state when necessary, over such period of years as appears to be fairly...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-13-27.htm - 2K - Match Info - Similar pages
27-13-60
Section 27-13-60 Definitions. For the purposes of this article, unless otherwise stated, the
following terms shall have the meanings respectively ascribed to them by this section: (1)
RATE. The unit charge by which the measure of exposure or the amount of insurance specified
in a policy of insurance or covered thereunder is multiplied to determine the premium. (2)
PREMIUM. The consideration paid or to be paid to an insurer for the issuance and delivery
of any binder or policy of insurance. (3) RATE-MAKING. The examination and analysis of every
factor and influence related to and bearing upon the hazard and risk made the subject of insurance;
the collection and collation of such factors and influences into rating plans; systems; and
the application of such rating systems to individual risks. (4) RATING PLAN. Every schedule,
class, classification, rule, guide, standard, manual, table, rating plan, policy, policy form,
or compilation by whatever name described, containing the rates used...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-13-60.htm - 2K - Match Info - Similar pages
32-7-35
Section 32-7-35 Assigned risk plans. After consultation with insurance companies authorized
to issue automobile liability policies in this state, the Commissioner of Insurance shall
approve a reasonable plan or plans for the equitable apportionment among such companies of
applicants for such policies and for motor vehicle liability policies who are in good faith
entitled to but are unable to procure such policies through ordinary methods. When any such
plan has been approved, all such insurance companies shall subscribe thereto and participate
therein. Any applicant for any such policy, any person insured under any such plan and any
insurance company affected may appeal to the Commissioner of Insurance from any ruling or
decision of the manager or committee designated to operate such plan. Any person aggrieved
hereunder by any order or act of the Commissioner of Insurance may, within 10 days after notice
thereof, file a petition in the Circuit Court of Montgomery County, Alabama for a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7-35.htm - 1K - Match Info - Similar pages
27-43-11
Section 27-43-11 Premium rates. (a) No policy of legal expense insurance may be issued in this
state unless the premium rates for the insurance have been filed with and approved by the
commissioner. (b) Premium rates must be established and justified in accordance with generally
accepted insurance principles, including, but not limited to, the experience or judgment of
the insurer making the rate filing or actuarial computations. (c) The commissioner may disapprove
rates that are excessive, inadequate, or unfairly discriminatory. Rates are not unfairly discriminatory
because they are averaged broadly among persons insured under group, blanket, or franchise
policies. (d) The commissioner may require the submission of whatever relevant information
is deemed necessary in determining whether to approve or disapprove a filing made under this
section or Section 27-43-10. (Acts 1981, No. 81-719, p. 1214, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-43-11.htm - 1K - Match Info - Similar pages
25-5-229
Section 25-5-229 Solicitation or writing of workers' compensation insurance by insurance companies,
etc., not in compliance with Code. Any insurance corporation, organization or association,
or any officer, employee or agent of such insurance corporation, organization or association
who solicits or writes any workers' compensation insurance in this state without complying
with the law as set forth in this Code in reference to filing with the Commissioner of Insurance
its classifications of risks and premiums relating thereto or without having received from
said Commissioner of Insurance approval of its plan of business or who fails to comply with
any other requisites set out in this chapter to make reports in writing, who conducts business
in the State of Alabama, shall be guilty of a misdemeanor and, on conviction, may be imprisoned
in the county jail or sentenced to hard labor for the county for not more than 12 months and
must also be fined not more than $500.00. (Acts 1919, No....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-229.htm - 1K - Match Info - Similar pages
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