27-16-16
Section 27-16-16 Policy provisions - Conversion to life insurance with less frequent premium
payments. There may be a provision in the case of industrial policies granting to the insured,
upon proper written request and upon presentation of evidence of insurability satisfactory
to the insurer, the privilege of converting any industrial insurance policy to any form of
life insurance with less frequent premium payments regularly issued by the insurer, in accordance
with terms and conditions agreed upon with the insurer. The privilege of making such conversion
need be granted only if the insurer's industrial policies on the life insured, in force as
premium-paying insurance and on which conversion is requested, grant benefits in event of
death, exclusive of additional accidental death benefits and exclusive of any dividend additions,
in an amount not less than the minimum amount of such insurance, with less frequent premium
payments issued by the insurer at the age of the insured on the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-16-16.htm - 1K - Match Info - Similar pages

11-51-120
Section 11-51-120 Insurance companies - Fire and marine insurance companies. No license or
privilege tax or other charge for the privilege of doing business shall be imposed by any
municipal corporation upon any fire or marine insurance company doing business in such municipality
except upon a percentage of each $100.00 of gross premiums, less return premiums, on policies
issued during the preceding year on property located in such municipality. Such percentage
shall not exceed four percent on each $100.00 or major fraction thereof of such gross premiums,
and no credit or deduction of any kind shall be allowed or made on account of the cost of
reinsurance by such company in a company not authorized to do business in this state. Any
municipality may charge a flat minimum license at the beginning of each year for new companies
doing business therein on which there shall be an adjustment at the expiration of such year
upon such percentage as may be fixed by said municipality, but such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-51-120.htm - 1K - Match Info - Similar pages

27-10-36
Section 27-10-36 Production of policies, etc., for inspection by commissioner. Every person
as to whom insurance is placed with an unauthorized insurer, upon the commissioner's order,
shall produce for his examination all policies and other documents evidencing the insurance
and shall disclose to the commissioner the amount of gross premiums paid, or agreed to be
paid, for the insurance. For each willful refusal to obey such order, such person shall be
liable to a fine of not more than $500.00. (Acts 1963, No. 521, p. 1112, §23; Acts 1971,
No. 407, p. 707, §211.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-36.htm - 881 bytes - Match Info - Similar pages

27-18-15
Section 27-18-15 Employee life insurance. "Employee life insurance" is that plan
of life insurance, other than salary savings life insurance or pension trust insurance and
annuities, under which individual policies are issued to the employees of any employer and
where such policies are issued on the lives of not less than three employees at date of issue.
Premiums for such policies shall be paid by the employer or the trustee of a fund established
by the employer either wholly from the employer's funds, or funds contributed by him, or partly
from such funds and partly from funds contributed by the insured employees or from funds contributed
wholly by the insured employees. (Acts 1971, No. 407, p. 707, §421.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-18-15.htm - 1K - 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

27-19-19
Section 27-19-19 Optional policy provisions - Other insurance in this insurer. There may be
a provision as follows: "Other Insurance in This Insurer: If an accident or sickness
or accident and sickness policy, or policies, previously issued by the insurer to the insured
be in force concurrently herewith, making the aggregate indemnity for _____ (insert type of
coverage or coverages) in excess of $ _____ (insert maximum limit of indemnity or indemnities),
the excess insurance shall be void and all premiums paid for such excess shall be returned
to the insured or to his estate." Or, in lieu thereof: "Insurance effective at any
one time on the insured under a like policy, or policies, in this insurer is limited to the
one such policy elected by the insured, his beneficiary or his estate, as the case may be,
and the insurer will return all premiums paid for all other such policies." (Acts 1953,
No. 193, p. 247, §3; Acts 1957, No. 597, p. 834; Acts 1971, No. 407, p. 707, §440.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-19.htm - 1K - Match Info - Similar pages

27-40-3
Section 27-40-3 Licenses - Required; fees; information to be furnished commissioner. (a) No
person shall engage in the business of financing insurance premiums in this state without
first having obtained a license as a premium finance company from the commissioner. Any person
who shall engage in the business of financing insurance premiums in this state without first
having obtained a license as provided herein shall be guilty of a misdemeanor and upon conviction
shall be punished by a fine of not more than $1,000.00 or by imprisonment for not more than
one year, or both. (b) The annual license fee shall be $200.00; provided, that an insurance
agency which finances its own business of less than $150,000.00 in premiums annually shall
pay a fee of $50.00. The fee for said license shall be paid into the Insurance Department
Examination Revolving Fund and the same is hereby appropriated for that use. (c) The person
to whom the license or the renewal thereof may be issued shall file sworn...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-40-3.htm - 1K - Match Info - Similar pages

27-14-29
Section 27-14-29 Rights of beneficiaries, etc., under life insurance policies against creditors,
etc. (a) If a policy of insurance, whether heretofore or hereafter issued, is effected by
any person on his own life or on another life in favor of a person other than himself 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 executors
or administrators, shall be entitled to its proceeds and avails against the creditors, personal
representatives, trustees in bankruptcy, and receivers in state and federal courts of the
person insured and of the person effecting the insurance, 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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-29.htm - 3K - Match Info - Similar pages

27-16-3
Section 27-16-3 Policy provisions - Generally. (a) No policy of industrial life insurance shall
be delivered or be issued for delivery in this state unless it contains in substance the applicable
provisions set forth in Sections 27-16-4 through 27-16-14. (b) This section does not apply
to burial insurance policies as defined in Section 27-17-1. (Acts 1971, No. 407, p. 707, §377.)...

alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-16-3.htm - 698 bytes - Match Info - Similar pages

27-19-105
Section 27-19-105 Regulations for long-term care policies; outline of coverage, policy summary,
and monthly report. (a) The commissioner may adopt regulations that include standards for
full and fair disclosure setting forth the manner, content, and required disclosures for the
sale of long-term care insurance policies, terms of renewability, initial and subsequent conditions
of eligibility, nonduplication of coverage provisions, coverage of dependents, preexisting
conditions, termination of insurance, continuation or conversion, probationary periods, limitations,
exceptions, reductions, elimination periods, requirements for replacement, recurrent conditions,
and definitions of terms. Regulations under this subsection should recognize the developing
and unique nature of long-term care insurance and the distinction between group and individual
long-term insurance policies. (b) No long-term care insurance policy may do any of the following:
(1) Be cancelled, nonrenewed, or otherwise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-105.htm - 11K - Match Info - Similar pages