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16-25A-7
Section 16-25A-7 Authorization and execution of contracts; evidence of coverage; denial of
claims. (a) The board is hereby authorized to execute a contract or contracts to provide for
the benefits or the administration of the plan determined in accordance with the provisions
of this article. Such contract or contracts may be executed with one or more agencies or corporations
licensed to transact or administer group health insurance business in this state. All of the
benefits to be provided under this article may be included in one or more similar contracts
issued by the same or different companies. The board is further authorized to develop a plan
whereby it may become self-insured upon its finding that such arrangement would be financially
advantageous to the state and plan participants. (b) Before entering into any contract or
contracts authorized by subsection (a), the board shall invite competitive bids from all qualified
entities who may wish to administer or offer plans for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25A-7.htm - 4K - Match Info - Similar pages
27-3-6.1
Section 27-3-6.1 Authority to transact insurance - Kind or combinations of kinds - Closing
or settlement protection. (a) Notwithstanding the provisions of subdivision (3) of Section
27-3-6, a title insurer may issue closing or settlement protection to a person who is a party
to a transaction in which a title insurance policy will be issued. (b) The form of closing
or settlement protection shall be submitted to and approved by the commissioner. (c) The closing
or settlement protection may indemnify a person only against loss of closing or settlement
funds because of one of the following acts of a settlement agent, such as a title insurance
agent or other settlement service provider which has been approved by the title insurer for
such protection, under the terms and conditions of the closing protection as approved by the
commissioner: (1) Theft or misappropriation of settlement funds in connection with a transaction
in which a title insurance policy or title insurance policies will be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-6.1.htm - 4K - Match Info - Similar pages
11-47-222
Section 11-47-222 Bonds of an authority - Sale and issuance of refunding bonds; maturity; limitation
on principal amount; use of proceeds; effectuation of refunding by sale or exchange of bonds.
(a) An authority may at any time and from time to time sell and issue its refunding bonds
for the purpose of refunding the principal of and interest on any then outstanding bonds of
the authority, whether or not the bonds shall have matured or be redeemable at the option
of the authority at the time of the refunding, and for the payment of any expenses incurred
in connection with the refunding and any premium or other sum necessary to be paid to redeem
or retire the bonds to be refunded. 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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-47-222.htm - 5K - 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
27-38-2
Section 27-38-2 Variable contracts - Statement of procedures for determining benefits; death
benefit provision. (a) Any variable contract providing benefits payable in variable amounts
delivered, or issued for delivery, in this state shall contain a statement of the essential
features of the procedures to be followed by the insurer in determining the dollar amount
of such variable benefits. Any such contract, including a group contract, and any certificate
in evidence of variable benefits issued thereunder shall state that such dollar amount will
vary to reflect investment experience and shall contain on its first page a statement to the
effect that the benefits thereunder are on a variable basis. (b) Variable annuity contracts
delivered, or issued for delivery, in this state may include as an incidental benefit provision
for payment on death during the deferred period of an amount not in excess of the greater
of the sum of the premiums or stipulated payments paid under the contract or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-38-2.htm - 1K - Match Info - Similar pages
33-1-5.2
Section 33-1-5.2 Life and health insurance for certain salaried officers and employees of state
docks. (a) The Alabama State Port Authority is hereby authorized to provide and establish
a plan of life and health insurance for the salaried officers and employees of Alabama state
docks who work full time for the Alabama state docks and receive their compensation on a bi-weekly
basis and also a plan of health insurance for the spouses and dependent children of such officers
and employees and to pay the costs and premiums of such life and health insurance from the
revenues of the Alabama State Port Authority. (b) Such health insurance plan may provide for
group hospitalization, surgical, medical and dental insurance against the financial costs
of hospitalization, surgical, medical and dental treatment and care, and may also include,
among other things, prescribed drugs, medicines, prosthetic appliances, hospital in-patient
and out-patient service benefits, including major medical benefits,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-1-5.2.htm - 2K - Match Info - Similar pages
36-29-15
Section 36-29-15 Coverage of members of Legislature, Lieutenant Governor and dependents; limitation
of benefits; payment of premiums; rules and regulations. (a) Any member of the Legislature
and the Lieutenant Governor, during their term of office, and their dependents, shall be eligible
for coverage under the State Employees' Health Insurance Plan and upon expiration of their
term of office may continue such coverage for a maximum of 36 months. (b) Preexisting conditions
shall not be covered until the insured has been covered under the plan for a period of 12
months, provided, however, that any legislator enrolling within 30 days of April 23, 1990
or within 30 days of the beginning of any calendar year thereafter shall not be subject to
this limitation of benefits. A preexisting condition is any condition for which the insured
or their covered dependent received medical treatment, advice or consultation or received
any prescribed medication within 12 months of the effective date of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-29-15.htm - 1K - Match Info - Similar pages
45-37A-51.284
Section 45-37A-51.284 Actuarial assumptions. (a) Effective date. Except as provided by the
Pension Benefit Guaranty Corporation (PBGC) and the Internal Revenue Service, the limitations
of this section shall first apply in determining the amount payable to a participant having
an annuity starting date in a fiscal year beginning on or after January 1, 2008. (b) Applicable
interest rate. For purposes of the fund's provisions relating to the calculation of the present
value of a benefit payment that is subject to § 417(e), Internal Revenue Code, as well as
any other fund provision referring directly or indirectly to the applicable interest rate
or applicable mortality table used for purposes of § 417(e), Internal Revenue Code, any provision
prescribing the use of the annual rate of interest on 30-year United States Treasury securities
shall be implemented by instead using the rate of interest determined by applicable interest
rate described by § 417(e), Internal Revenue Code, after its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.284.htm - 3K - Match Info - Similar pages
6-5-543
shall revert to the judgment debtor. (g) In the event periodic payments are ordered under this
section, the court shall order the judgment marked satisfied when the judgment debtor satisfies
the court that he is adequately insured or posts security sufficient to assure full payment
of such damages or purchases an annuity of sufficient value as set out in subsection (c) of
this section. (h) It is the intent of the Legislature in enacting this section to require
the entry of judgments in malpractice actions against health care providers which provide
for the payment of future damages in excess of $150,000 through periodic payments rather than
lump sum payments. By authorizing periodic payment of judgments as required herein it is the
intent of the Legislature that the courts will utilize such judgments to provide compensation
sufficient to meet the needs of an injured plaintiff and those persons who are dependent upon
the plaintiff for the period of years during which said future...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-5-543.htm - 9K - Match Info - Similar pages
11-53B-10
Section 11-53B-10 Redemption of property. (a) Any real property heretofore or hereafter sold
for the satisfaction of an assessment lien imposed thereon by the governing body of a municipality
may be redeemed by the former owner, or his or her assigns, or other persons authorized to
redeem property sold for taxes by the state, within two years from the date of the sale by
depositing with the officer designated by the municipality to collect the assessments the
amount of money for which the lands were sold, with interest thereon at the rate of 12 percent
per annum from the date of the sale through the date of the payment. (b) In addition to any
other requirements set forth in this section, the proposed redemptioner must pay or tender
the purchaser or his transferee all insurance premiums paid or owed by the purchaser with
accrued interest on the payments computed from the date the premiums were paid at 12 percent
per annum through the date of payment. (c) In addition to any other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-53B-10.htm - 4K - Match Info - Similar pages
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