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27-17-16
Section 27-17-16 Valuation of life insurance reserve liabilities for burial insurance policies;
increase in amount of insurance; minimum standards for valuation; notice to commissioner as
to change in valuation standards; increase in retail value, nonforfeiture value, and cash
surrender value; construction with other laws. (a) Except as hereinafter provided, any authorized
insurer who issues or has heretofore issued "burial insurance" in this state shall
value the life insurance reserve liabilities for such policies (hereinafter "burial reserves")
in accordance with the provisions of Section 27-36-7. (b) An insurer shall increase the amount
of insurance on which its burial reserves are based, not to exceed the retail value of such
benefits as stated in the policies, when appropriate to reflect an increase in the costs to
the insurer of providing the policy benefits. When an insurer shall increase the amount of
insurance for this purpose, it shall be permitted to change the assumed...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17-16.htm - 3K - Match Info - Similar pages
27-31B-16
tax on premiums written during the calendar year is less than the minimum set forth in this
section, the tax due shall be prorated as follows: (1) If surrendered on or before March 31,
25 percent. (2) If surrendered April 1 to June 30, 50 percent. (3) If surrendered July 1 to
September 30, 75 percent. (4) If surrendered October 1 to December 31, 100 percent. (l) The
tax provided for in this section shall constitute all taxes collectible under the laws of
this state from any captive insurance company, and no other occupation tax or other taxes
shall be levied or collected from any captive insurance company by the state or any county,
city, or municipality within this state, except business privilege taxes and ad valorem taxes
on real and personal property used in the production of income. (m) The tax provided
for in this section shall not be applicable if the captive insurance company writes no premiums
during the calendar year. (Act 2006-509, p. 1153, §1; Act 2016-191, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-16.htm - 6K - Match Info - Similar pages
12-10A-1
Section 12-10A-1 Compensation of judges - Uniform plan. (a) In recognition of the disparity
in compensation of circuit and district judges caused by varying amounts of local supplements
to state salaries and the need for a uniform plan of compensation, the following comprehensive
plan is adopted for the compensation of judges. This plan, when implemented, shall reward
judges for judicial experience and phase out local salary supplements and expense allowances.
(1) On October 1, 2000, the salary of circuit judges paid from the State Treasury shall be
increased to the amount authorized for attorneys in the classified service of the state as
Attorney IV, step 14, on June 10, 1999, and the salary of the Supreme Court Justices, judges
of the appellate courts, and district judges shall be adjusted correspondingly as provided
by Act 90-111, 1990 Regular Session (Acts 1990, p. 132). (2) On October 1, 2001, the salary
of circuit judges paid from the State Treasury shall be increased to the...
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41-10-459
Section 41-10-459 Refunding bonds. The authority may from time to time sell and issue its refunding
bonds without limit as to principal amount for the purpose of refunding any bonds of the authority
at the time outstanding, paying the expenses of issuance thereof and paying any premiums necessary
to be paid to redeem any bonds so to be refunded; provided, however, that no refunding bonds
(other than refunding bonds issued to refund those bonds of the authority designated Building
Renovation Revenue Bonds, Series 1990, originally issued in the aggregate principal amount
of $29,500,000) shall be issued unless the present value of all debt service on the refunding
bonds (computed with a discount rate equal to the true interest rate of the refunding bonds
and taking into account all underwriting discount and other issuance expenses) shall not be
greater than 99 percent of the present value of all debt service on the bonds to be refunded
(computed using the same discount rate and taking...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-459.htm - 2K - Match Info - Similar pages
12-18-112
Section 12-18-112 Transfer of contributions and creditable service - District judge's adjusted
benefit formulas; spouse's benefits. In the event a member of the Judicial Retirement Fund,
who is a district judge, or a surviving spouse thereof, must employ and count creditable service
transferred under this article to qualify for retirement and/or benefits under the fund, the
benefits or allowances payable to such member or spouse shall be calculated as follows, and
shall be in lieu of any and all other rights, benefits and allowances, except social security
payments: (1) The annual service allowance payable to a retiring district judge shall be an
annual amount equal to the sum of: a. The amount which results when 90 percent of the retirement
benefits payable by the state to circuit judges on the date such district judge retires (as
is provided under Section 12-18-58) is multiplied by the ratio created when the member's number
of years of creditable service, excluding transferred...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-112.htm - 4K - Match Info - Similar pages
12-18-113
Section 12-18-113 Transfer of contributions and creditable service - Probate judge's adjusted
benefit formulas; spouse's benefits. In the event a member of the Judicial Retirement Fund,
who is a probate judge, or a surviving spouse thereof, must employ and count creditable service
transferred under this article to qualify for retirement and/or benefits under the fund, the
benefits or allowances payable to such member or spouse shall be calculated as follows, and
shall be in lieu of any and all other rights, benefits and allowances, except Social Security
payments: (1) The annual service allowance payable to a retiring probate judge shall be an
annual amount equal to the sum of: a. The amount which results when 75 percent of the base
sum or salary upon which such judge was contributing, as provided in Section 12-18-82, immediately
prior to retirement is multiplied by the ratio created when the member's number of years of
creditable service, excluding transferred credit, is compared to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/12-18-113.htm - 5K - Match Info - Similar pages
16-25-190
Section 16-25-190 Increase in benefits to members and beneficiaries. (a) Commencing October
1, 2005, there is provided an increase in benefits to each person currently receiving benefits
whose effective date of retirement was prior to October 1, 2004, for purposes of receiving
benefits, and to certain beneficiaries of deceased members and deceased retirees currently
receiving survivor benefits, if the effective date of retirement or death for the deceased
retiree or deceased member was prior to October 1, 2004, for purposes of receiving benefits
from the Teachers' Retirement System, a cost-of-living adjustment (COLA) of four percent of
the current gross benefit, but not less than fifteen dollars ($15) per month. (b) Any future
survivor allowance shall be adjusted as provided in the members' original option selection
for those eligible retirees who have selected a monthly survivor allowance payable to a designated
beneficiary upon the death of the retiree, or otherwise provided by law...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-190.htm - 2K - Match Info - Similar pages
25-4-75
Section 25-4-75 Extension of benefit period. (a) Applicability of section. Notwithstanding
any other provisions of this chapter, the duration of benefits as provided in Section 25-4-74
shall be extended as provided in this section. (b) Definitions. As used in this section, unless
the context clearly requires otherwise, the following terms shall mean: (1) EXTENDED BENEFIT
PERIOD. A period which: a. Begins with the third week after a week for which there is a state
"on" indicator; and b. Ends with either of the following weeks, whichever occurs
later: 1. The third week after the first week for which there is a state "off" indicator;
or 2. The thirteenth consecutive week of such period; provided, that no extended benefit period
may begin by reason of a state "on" indicator before the fourteenth week following
the end of a prior extended benefit period which was in effect with respect to this state.
3. The eligibility period for the payment of extended benefits using the total unemployment...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-4-75.htm - 17K - Match Info - Similar pages
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
6-10-8
Section 6-10-8 Rights of beneficiaries and assignees under life insurance policies. If a policy
of insurance, whether heretofore or hereafter issued, is effected by any person on his or
her own life or on another life in favor of a person other than himself or herself or, except
in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned
or in any way made payable to any such person, the lawful beneficiary or assignee thereof,
other than the insured or the person so effecting such insurance, or his or her executors
or administrators, shall be entitled to its proceeds and avails against the creditors and
representatives of the insured and of the person effecting the same, whether or not the right
to change the beneficiary is reserved or permitted and whether or not the policy is made payable
to the person whose life is insured if the beneficiary or assignee shall predecease such person;
provided, that subject to the statute of limitations, the amount...
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