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27-14-11.1
Section 27-14-11.1 Contents of policies - Denial or reduction of benefits due to Medicaid eligibility
void. (a) For purposes of this section, "private insurer" is defined as any of the
following: (1) Any commercial insurance company offering health or casualty insurance to individuals
or groups, including both experience-rated contracts and indemnity contracts. (2) Any profit
or nonprofit prepaid plan offering either medical services or full or partial payment for
the diagnosis or treatment of an injury, disease, or disability. (3) Any organization administering
health or casualty insurance plans for professional associations, unions, fraternal groups,
employer-employee benefit plans, and any similar organization offering these payments or services,
including self-insured and self-funded plans. (4) Any health insurer, including group health
plans, as defined in Section 607(1) of the Employee Retirement Income Security Act of 1974,
self-insured plans, service benefit plans, managed care...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-11.1.htm - 3K - Match Info - Similar pages
27-14-18
Section 27-14-18 Binders. (a) Binders or other contracts for temporary insurance may be made
orally or in writing and shall be deemed to include all the usual terms of the policy as to
which the binder was given, together with such applicable endorsements as are designated in
the binder, except as superseded by the clear and express terms of the binder. (b) No binder
shall be valid beyond the issuance of the policy with respect to which it was given or beyond
90 days from its effective date, whichever period is the shorter. (c) If the policy has not
been issued, a binder may be extended or renewed beyond such 90 days with the written approval
of the commissioner or in accordance with such rules and regulations relative thereto as the
commissioner may promulgate. (d) This section shall not apply to life or disability insurances.
(Acts 1971, No. 407, p. 707, §331.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-18.htm - 1K - Match Info - Similar pages
27-15-75
Section 27-15-75 Calculation of adjusted premiums. (a)(1) This section shall not apply to policies
issued on or after the operative date of Section 27-15-78, as defined therein. Except as provided
in subsection (c), 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, that the present value
at the date of issue of the policy, of all such adjusted premiums shall be equal to the sum
of: a. The then present value of the future guaranteed benefits provided for by the policy.
b. Two percent of the amount of the insurance if the insurance be uniform in amount, or of
the equivalent uniform amount, as defined in this article, if the amount of insurance varies
with the duration of the policy. c. Forty percent of the adjusted premium for the first policy
year. d. Twenty-five percent of either the adjusted premium...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-75.htm - 4K - Match Info - Similar pages
27-36A-12
Section 27-36A-12 Reserve calculation - Valuation net premium exceeding the gross premium charged.
(a) If in any contract year the gross premium charged by a company on a policy or contract
issued on or after January 1, 1972, is less than the valuation net premium for the policy
or contract calculated by the method used in calculating the reserve thereon, but using the
minimum valuation standards of mortality and rate of interest, the minimum reserve required
for the policy or contract shall be the greater of either the reserve calculated according
to the mortality table, rate of interest, and method actually used for the policy or contract,
or the reserve calculated by the method actually used for the policy or contract but using
the minimum valuation standards of mortality and rate of interest and replacing the valuation
net premium by the actual gross premium in each contract year for which the valuation net
premium exceeds the actual gross premium. The minimum valuation standards...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-12.htm - 2K - Match Info - Similar pages
27-36A-8
Section 27-36A-8 Reserve valuation method - Life insurance and endowment benefits. (a) Except
as otherwise provided in Sections 27-36A-9, 27-36A-12, and 27-36A-14, reserves according to
the commissioners reserve valuation method, for the life insurance and endowment benefits
of policies providing for a uniform amount of insurance and requiring the payment of uniform
premiums, shall be the excess, if any, of the present value, at the date of valuation, of
the future guaranteed benefits provided for by the policies over the then present value of
any future modified net premiums therefor. The modified net premiums for a policy shall be
the uniform percentage of the respective contract premiums for the benefits, excluding extra
premiums on a substandard policy, that the present value, at the date of issue of the policy,
of all modified net premiums shall be equal to the sum of the then present value of the benefits
provided for by the policy and the excess of subdivision (1) over...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-8.htm - 4K - Match Info - Similar pages
27-41-29
Section 27-41-29 Particular investments - Bonds, etc., secured by mortgages or deeds of trust
on real property, etc., generally. An insurer may invest in: (1) Bonds, notes, or other evidences
of indebtedness which are secured by a first mortgage lien or deed of trust upon unencumbered
improved real property located in the United States or Canada, including leasehold estates
in such real estate having an unexpired term (inclusive of the term or terms which may be
provided by options of renewal) of not less than 10 years beyond the final maturity of the
loan. Unless guaranteed or insured by the Administrator of Veterans Affairs, the Secretary
of Housing and Urban Development, or by a mortgage guaranty insurance policy issued by an
insurance company licensed and authorized to do business by and in the State of Alabama, no
such mortgage loan or loans when made shall exceed 75 percent of the fair value of the real
estate or leasehold, except that loans made on single family dwellings shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-29.htm - 3K - Match Info - Similar pages
27-7-4.4
Section 27-7-4.4 Fingerprints. (a) In order to make a determination of insurance producer license
eligibility, the commissioner is authorized to require fingerprints of initial resident applicants
for an insurance producer license and to submit the fingerprints and the fee required to perform
the criminal history record checks to the Alabama Department of Public Safety and the Federal
Bureau of Investigation (FBI) for state and national criminal history record checks. (b) The
commissioner shall require a criminal history record check on each initial resident applicant
for insurance producer license in accordance with this section. The commissioner shall require
each applicant to submit a full set of fingerprints, including a scanned file from a hard
copy fingerprint, in order for the commissioner to obtain and receive national criminal history
records from the FBI Criminal Justice Information Services Division. (c) The commissioner
may contract for the collection, transmission, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-4.4.htm - 3K - Match Info - Similar pages
11-91-7
Section 11-91-7 Validation, etc., of policies issued prior to August 16, 1947, and acts done
and premiums paid in accordance therewith. All contracts and policies of group life, health,
accident, and hospitalization insurance or any one or more of them which have been issued
prior to August 16, 1947, to any municipal corporation, county, city or county board of education
or any state agency or institution of education, learning, training or correction, or for
the delinquent, insane, sick, deaf, dumb, blind, needy, juvenile, or aged for the benefit
of its officers and employees or any portion of them are hereby ratified, confirmed, approved,
and validated. All acts done and all premiums paid by any such municipal corporation, county,
board, agency or institution in accordance with the terms of any such contract or policy are
hereby ratified, confirmed, approved and validated. (Acts 1947, No. 377, p. 269, §§1, 2.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-91-7.htm - 1K - Match Info - Similar pages
16-1-2
Section 16-1-2 Inspection of buildings during and after construction; acceptance of completed
construction; forms for construction contracts. In order to eliminate the causes of school
fires and other conditions which jeopardize the health and safety of school children: (1)
The county or city superintendent of education shall notify the State Superintendent of Education
within 10 days after the beginning of the construction of a building; and, upon the request
of the county or city superintendent of education, the State Superintendent of Education or
his agent shall inspect said building during construction for the purpose of seeing that plans
and specifications upon which the contract was let are being complied with. (2) A county or
city superintendent of education shall not recommend and a county or city board of education
shall not approve for payment more than 90 percent of the contract price of the building constructed
by the county or city board of education until the State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-1-2.htm - 4K - Match Info - Similar pages
27-18-11
Section 27-18-11 Policy provisions - Conversion - Termination of eligibility. The group life
insurance policy shall contain a provision that if the insurance, or any portion of it, on
a person covered under the policy ceases because of termination of employment or of membership
in the class, or classes, eligible for coverage under the policy, such person shall be entitled
to have issued to him by the insurer, without evidence of insurability, an individual policy
of life insurance without disability or other supplementary benefits, provided application
for the individual policy shall be made and the first premium paid to the insurer within 31
days after such termination and provided, further, that: (1) The individual policy shall,
at the option of such person, be on any one of the forms, except term insurance, then customarily
issued by the insurer at the age and for the amount applied for; (2) The individual policy
shall be in an amount not in excess of the amount of life insurance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-18-11.htm - 2K - Match Info - Similar pages
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