22-3A-14
Section 22-3A-14 Refunding bonds. (a) Any bonds issued by the authority under this chapter
may from time to time thereafter be refunded by the issuance of refunding bonds of the authority;
provided, however, that no refunding bonds 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 95 percent of the present value of all debt service on
the bonds to be refunded (computed using the same discount rate and taking into account the
underwriting discount and other issuance expenses originally applicable to such bonds) determined
as if such bonds to be refunded were paid and retired in accordance with the schedule of maturities
(considering mandatory redemption as a scheduled maturity) provided at the time of their issuance.
Provided further that the average maturity of the...
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27-41-24
Section 27-41-24 Particular investments - Loans secured by pledges of securities or pledges
or assignments of life insurance policies. An insurer may invest in loans with a maturity
not in excess of five years from the date thereof which are secured by pledge of securities
eligible for investment under this chapter or by the pledge or assignment of life insurance
policies issued by insurers authorized to transact insurance in this state. On the date made,
no such loan shall exceed in amount 75 percent of the market value of the collateral pledged;
except, that loans upon the pledge of United States government bonds and loans upon the pledge
or assignment of life insurance policies shall not exceed 95 percent of the market value of
the bonds or the cash surrender value of the policies pledged. The amount so loaned shall
be included in the maximum amount of funds permitted under this chapter to be invested in
a single person. (Acts 1977, No. 408, p. 530, §24.)...
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11-51-121
Section 11-51-121 Insurance companies - Insurance companies other than fire and marine insurance
companies. (a) No license or privilege tax or other charge for the privilege of doing business
shall be imposed by any municipal corporation upon any insurance company, other than fire
and marine insurance companies, doing business therein or its agents which shall exceed for
the company and its agents the following amounts: (1) Each insurance company in cities and
towns having a population of 5,000 or less, $10.00 and $1.00 on each $100.00 and major fraction
thereof of the gross premiums, less return premiums, received during the preceding year on
policies issued during said year to citizens of said cities and towns. (2) Each such insurance
company in cities and towns having a population of over 5,000 and not over 10,000, $15.00
and $1.00 on each $100.00 and major fraction thereof on gross premiums, less return premiums,
received during the preceding year on policies issued during said...
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27-30-17
Section 27-30-17 Contracts - Annual valuation - Benefits, aid, or services other than cash.
(a) The commissioner shall each year cause all outstanding contracts or policies of every
mutual aid association to be carefully valued as of December 31 of the preceding year at 40
percent of the retail value of the benefits, aid, or services provided under the terms of
its contracts or policies or at the average wholesale cost of the funeral supplies, benefits,
aid, and services so provided for, whichever amount is the greater, as shown by the number
of contracts or policies in force according to the books and records of the association, and
shall at the time compute the net value of all such outstanding contracts or policies of every
such association in the following manner: (1) On all outstanding contracts or policies issued
prior to September 16, 1953, the commissioner shall compute the net value thereof by the two
following separate methods: a. Method No. 1: On the basis of $1.50 for each...
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14-2-13.1
Section 14-2-13.1 Bonds - Limitations on issuance of refunding bonds; present value of debt
service; average maturity of refunding bonds. It is hereby further provided that no refunding
bonds as provided for by Section 14-2-13 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 95% of the present value of all debt service on the bonds
to be refunded (computed using the same discount rate and taking into account the underwriting
discount and other issuance expenses originally applicable to such bonds) determined as if
such bonds to be refunded were paid and retired in accordance with the schedule of maturities
(considering mandatory redemption as a scheduled maturity) provided at the time of their issuance.
Provided further that the average maturity of the refunding...
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27-1-11
Section 27-1-11 Dentists and dental hygienists as "physicians" under health or accident
insurance policies. Whenever the terms "physician" and/or "doctor" are
used in any policy of health or accident insurance issued in this state or in any contract
for the provision of health care, services, or benefits issued by any health, medical or other
service corporation existing under, and by virtue of any laws of this state, said terms shall
include within their meaning those persons licensed under and in accordance with Chapter 9
of Title 34 in respect to any care, services, procedures, or benefits covered by said policy
of insurance or health care contract which the said persons are licensed to perform, any provisions
in any such policy of insurance or health care contract to the contrary notwithstanding. This
section shall be applicable to all policies in this state, regardless of date of issue, on
October 10, 1975. (Acts 1975, No. 1241, p. 2607, §1.)...
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27-12-13
Section 27-12-13 Life, annuity, and disability insurance - Exceptions to discrimination, rebates,
or special inducements. Nothing in Sections 27-12-11 and 27-12-12 shall be construed as including
within the definition of discrimination, rebates, or special inducements any of the following
practices: (1) In the case of any contract of life insurance or annuity, paying bonuses to
policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated
from nonparticipating insurance, provided, that any such bonuses or abatement of premiums
is fair and equitable to policyholders and for the best interests of the insurer and its policyholders;
(2) In the case of life or disability insurance policies issued on the industrial debit or
weekly premium plan, making allowance to policyholders who have continuously for a specified
period made premium payments directly to an office of the insurer in an amount which fairly
represents the saving in collection expense; (3)...
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27-17-1
Section 27-17-1 Applicability of chapter; "burial insurance" defined. (a) This chapter
applies only to burial insurance policies. (b) For the purposes of this title, "burial
insurance" is that form of life insurance under which: (1) Benefits are provided in the
form of merchandise and services incident to the burial of the insured or the furnishing of
a monument to the insured; (2) The specified retail value of such merchandise and services
does not exceed $1,500.00; and (3) The words "burial policy," "vault policy,"
"monument policy," or words of similar import are printed on the policy as a part
of its description. (Acts 1971, No. 407, p. 707, §392.)...
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27-36-5
Section 27-36-5 Active life reserve for disability insurance. For all disability insurance
policies, the insurer shall maintain an active life reserve which shall place a sound value
on its liabilities under such policies and be not less than the reserve according to appropriate
standards set forth in regulations issued by the commissioner and, in no event, less in the
aggregate than the pro rata gross unearned premiums for such policies. (Acts 1971, No. 407,
p. 707, §741.)...
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27-15-2
Section 27-15-2 Life insurance policy provisions - Generally. (a) No policy of life insurance
other than industrial, group, and pure endowments, with or without return of premiums or of
premiums and interest, shall be delivered or issued for delivery in this state unless it contains
in substance all of the provisions required by Sections 27-15-3 through 27-15-14. This section
shall not apply to burial insurance, annuity contracts, to any provision of a life insurance
policy, or contract supplemental thereto, relating to disability benefits or to additional
benefits in the event of death or dismemberment by accident or accidental means or to any
provision relating to waiver of premiums in the event of death or disability of the beneficiary
or premium payer. (b) Any of such provisions, or portions thereof not applicable to single
premium or term policies, shall, to that extent, not be incorporated therein. (Acts 1971,
No. 407, p. 707, §347.)...
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