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27-7-4.2
Section 27-7-4.2 Licenses - Applicability to insurance producer. (a) Nothing in this
chapter shall be construed to require an insurer to obtain an insurance producer license.
In this section, the term "insurer" does not include an insurer's officers,
directors, employees, subsidiaries, or affiliates. (b) A license as an insurance producer
shall not be required of any of the following: (1) An officer, director, or employee of an
insurer or of an insurance producer, provided that the officer, director, or employee does
not receive any commission on policies written or sold to insure risks residing, located,
or to be performed in this state and any of the following: a. The officer, director, or employee's
activities are executive, administrative, managerial, clerical, or a combination of these,
and are only indirectly related to the sale, solicitation, or negotiation of insurance. b.
The officer, director, or employee's function relates to underwriting, loss control, inspection,
or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-4.2.htm - 4K - Match Info - Similar pages
36-29-1
Section 36-29-1 Definitions. When used in this chapter, the following terms shall have
the following meanings, respectively, unless the context clearly indicates otherwise: (1)
BOARD. The State Employees' Insurance Board. (2) CLASS. An employee or retiree shall be included
in one of the following classes: (i) active employee single, (ii) active employee family,
(iii) non-Medicare retiree single, (iv) non-Medicare retiree family, (v) Medicare retiree
single, (vi) Medicare retiree family, (vii) non-Medicare retiree with Medicare eligible dependent(s),
or (viii) Medicare retiree with non-Medicare dependent(s). (3) EMPLOYEE. A person who works
full time for the State of Alabama or for a county health department and who receives his
or her full compensation on a monthly basis through means of a state warrant drawn upon the
State Treasury or by check drawn by the Treasurer of the Alabama State Port Authority or by
check drawn by the treasurer of the Alabama state agency for surplus property...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-29-1.htm - 11K - Match Info - Similar pages
27-27-43
Section 27-27-43 Mutualization of stock insurers. (a) A stock insurer other than a title
insurer may become a mutual insurer under such plan and procedure as may be approved by the
commissioner after a hearing thereon. (b) The commissioner shall not approve any such plan,
procedure, or mutualization unless: (1) It is equitable to stockholders and policyholders;
(2) It is subject to approval by the holders of not less than three-fourths of the insurer's
outstanding capital stock having voting rights and by not less than three-fourths of the insurer's
policyholders who vote on such plan in person, by proxy, or by mail pursuant to such notice
and procedure as may be approved by the commissioner; (3) If a life insurer, the right to
vote thereon is limited to holders of policies other than term or group policies and whose
policies have been in force for more than one year; (4) Mutualization will result in retirement
of shares of the insurer's capital stock at a reasonable price as specified...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-43.htm - 2K - Match Info - Similar pages
27-34-25
Section 27-34-25 Paid-up nonforfeiture benefits, cash surrender values, and certificate
loans, etc. (a) A society may grant paid-up nonforfeiture benefits, cash surrender values,
certificate loans, and such other options as its laws may permit. As to certificates issued
on and after January 1, 1972, a society shall grant at least one paid-up nonforfeiture benefit,
except in the case of pure endowment, annuity or reversionary annuity contracts reducing term
insurance contracts or contracts of term insurance of uniform amount of 15 years or less expiring
before age 66. (b) In the case of certificates other than those for which reserves are computed
on the commissioners 1958 Standard Ordinary Mortality Table or the 1961 Standard Industrial
Table, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender
value, loan or other option granted shall not be less than the excess, if any, of subdivision
(1) over subdivision (2) of this subsection, as follows: (1) The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-34-25.htm - 2K - Match Info - Similar pages
40-18-14
Section 40-18-14 Adjusted gross income of individuals. The term "gross income"
as used herein: (1) Includes gains, profits and income derived from salaries, wages, or compensation
for personal services of whatever kind, or in whatever form paid, including the salaries,
income, fees, and other compensation of state, county, and municipal officers and employees,
or from professions, vocations, trades, business, commerce or sales, or dealings in property
whether real or personal, growing out of ownership or use of or interest in such property;
also from interest, royalties, rents, dividends, securities, or transactions of any business
carried on for gain or profit and the income derived from any source whatever, including any
income not exempted under this chapter and against which income there is no provision for
a tax. The term "gross income" as used herein also includes alimony and separate
maintenance payments to the extent they are includable in gross income for federal income
tax...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-14.htm - 6K - Match Info - Similar pages
41-10-44.3
Section 41-10-44.3 Additional powers of authority. In addition to the powers granted
to it in Section 41-10-26 and in Sections 41-10-37 through 41-10-43, the authority
shall have the following powers: (1) To adopt and alter bylaws for the regulation and conduct
of its affairs and business; (2) To borrow money and to issue project obligations, whether
or not the interest thereon is excluded from gross income for federal income tax purposes,
for the purpose of financing project costs, and to provide for the rights of the purchasers,
holders or owners of its project obligations; (3) To execute and deliver mortgages, security
agreements and trust indentures and other forms of agreements for the purpose of securing
its project obligations, and in connection therewith, to mortgage, pledge or assign the revenues,
receipts and other property of the authority received, and the financing agreements entered
into by the authority in connection with, the financing of projects under this Article 2A;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-44.3.htm - 5K - Match Info - Similar pages
25-5-290
Section 25-5-290 Ombudsman program, creation; purpose; members; notification of service;
benefit review conferences. (a) The Department of Industrial Relations shall establish an
Ombudsman Program to assist injured or disabled employees, persons claiming death benefits,
employers, and other persons in protecting their rights and obtaining information available
under the Workers' Compensation Law. (b) Providing that the employer and the employee agree
to participate in the benefit review conference, the ombudsmen shall meet with or otherwise
provide information to injured or disabled employees, investigate complaints, and communicate
with employers, insurance carriers, and health care providers on behalf of injured or disabled
employees. (c) Ombudsmen shall be Merit System employees and demonstrate familiarity with
the Workers' Compensation Law. An ombudsman shall not be an advocate for any person who shall
assist a claimant, employer, or other person in any proceeding beyond the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-290.htm - 4K - Match Info - Similar pages
27-27-15
Section 27-27-15 Domestic mutual insurers - Authorization to transact insurance. (a)
When newly organized, a domestic mutual insurer may be authorized to transact any one of the
kinds of insurance listed in the schedule contained in subsection (b) of this section.
(b) When applying for an original certificate of authority, the insurer must be otherwise
qualified therefor under this title and must have received and accepted bona fide applications
as to substantial insurable subjects for insurance coverage of a substantial character of
the kind of insurance proposed to be transacted, must have collected in cash the full premium
therefor at a rate not less than that usually charged by other insurers for comparable coverages,
must have surplus funds on hand and deposited as of the date such insurance coverages are
to become effective or, in lieu of such applications, premiums and surplus and may deposit
surplus, all in accordance with that part of the following schedule which applies to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-15.htm - 3K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-816.htm - 10K - Match Info - Similar pages
27-15-78
Section 27-15-78 Calculations of adjusted premiums by the nonforfeiture net level premium
method. (a) This section shall apply to all policies issued on or after the operative
date of this section as defined herein. Except as provided in subsection (g), the adjusted
premiums for any policy shall be calculated on an annual basis and shall be such uniform percentage
of the respective premiums specified in the policy for each policy year, excluding extra premiums
on a substandard policy and also excluding any uniform annual contract charge or policy fee
specified in the policy in a statement of the method to be used in calculating the cash surrender
values and paid-up nonforfeiture benefits, that the present value, at the date of issue of
the policy, of all adjusted premiums shall be equal to the sum of: (1) The then present value
of the future guaranteed benefits provided for by the policy. (2) One percent of either the
amount of insurance, if the insurance be uniform in amount, or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-78.htm - 12K - Match Info - Similar pages
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