Code of Alabama

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27-36A-2
Section 27-36A-2 Definitions. For purposes of this chapter, the following definitions shall
apply on or after the operative date of the valuation manual as defined by Section 27-36A-15:
(1) ACCIDENT AND HEALTH INSURANCE. Contracts that incorporate morbidity risk and provide protection
against economic loss resulting from accident, sickness, or medical conditions and as may
be specified in the valuation manual. (2) APPOINTED ACTUARY. A qualified actuary who is appointed
in accordance with the valuation manual to prepare the actuarial opinion required in subsection
(b) of Section 27-36A-4. (3) COMPANY. An entity, which (i) has written, issued, or reinsured
life insurance contracts, accident and health insurance contracts, or deposit-type contracts
in this state and has at least one such policy in force or on claim or (ii) has written, issued,
or reinsured life insurance contracts, accident and health insurance contracts, or deposit-type
contracts in any state and is required to hold a...
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27-7-1
Section 27-7-1 Definitions. For the purposes of this chapter, the following terms shall have
the meanings respectively ascribed to them by this section: (1) BUSINESS ENTITY. A corporation,
association, partnership, limited liability company, limited liability partnership, or other
legal entity. (2) COMMISSIONER. The Alabama Commissioner of Insurance. (3) HOME STATE. The
District of Columbia and any state or territory of the United States in which an insurance
producer maintains his or her principal place of residence or principal place of business
and is licensed to act as an insurance producer. (4) INSURANCE. As defined in Section 27-1-2.
(5) INSURANCE PRODUCER or PRODUCER. A person required to be licensed under the laws of this
state to sell, solicit, or negotiate insurance. (6) INSURER. As defined in Section 27-1-2.
For the purposes of this chapter, insurer shall also mean an insurance company licensed pursuant
to Chapter 3, commencing with Section 27-3-1 of this title; a health...
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27-15-52
Section 27-15-52 Definitions. The following terms shall have the following meanings: (1) COMMERCIALLY
REASONABLE EFFORT. The plans, processes, or procedures necessary to confirm the death of the
insured, contract owner or annuitant, or retained asset account holder against other available
records and information and, as applicable, to locate the beneficiary or beneficiaries or
other person entitled to payment pursuant to the terms of the policy or contract which have
been developed by each insurer and submitted to and approved by the department. (2) CONTRACT.
An annuity contract. The term contract shall not include an annuity used to fund an employment-based
retirement plan or program where the insurer is not committed by terms of the annuity contract
to pay death benefits to the beneficiaries of specific plan participants. (3) DEATH MASTER
FILE. The United States Social Security Administration's Death Master File or any other database
or service that is at least as comprehensive as...
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27-42-5
Section 27-42-5 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACCOUNT. Any one
of the three accounts created by Section 27-42-6. (2) AFFILIATE. A person who directly, or
indirectly, through one or more intermediaries, controls, is controlled by, or is under common
control with another person on December 31 of the year immediately preceding the date the
insurer becomes an insolvent insurer. (3) ASSOCIATION. The Alabama Insurance Guaranty Association
created under Section 27-42-6. (4) CLAIMANT. Any insured making a first party claim or any
person instituting a liability claim. The term does not include a person who is an affiliate
of an insolvent insurer. (5) COMMISSIONER. The Commissioner of Insurance of the State of Alabama.
(6) CONTROL. The possession, direct or indirect, of the power to direct or cause the direction
of the management and policies of a person, whether...
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27-10-35
Section 27-10-35 Report of, and tax on, independently procured coverages; exceptions. (a) Anyone
who may desire to place his insurance in a foreign insurer not authorized to do business in
this state may place such insurance, and any insured who in this state procures, or causes
to be procured, or continues or renews insurance in an unauthorized foreign insurer or any
self-insurer who in this state so procures or continues excess loss, catastrophe, or other
insurance, upon a subject of insurance resident, located or to be performed within this state,
other than insurance procured through a surplus line broker pursuant to the surplus lines
law of this state or exempted from such law under Section 27-10-34 shall, within 90 days after
the date such insurance was so procured, continued, or renewed, file a written report of the
same with the commissioner on forms designated by the commissioner and furnished to such an
insured upon request. The report shall show the name and address of the...
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27-6B-4
Section 27-6B-4 Contract requirements. (a) Unless there is a written contract between the controlling
producer and the insurer approved by the board of directors of the insurer and specifying
the responsibilities of each party, a controlled insurer shall not accept business from a
controlling producer and a controlling producer shall not place business with a controlled
insurer. The contract between a controlling producer and a controlled insurer shall, as a
minimum, contain all of the following: (1) A provision that, upon written notice to the controlling
producer, the controlled insurer may terminate the contract for cause. The controlled insurer
shall suspend the authority of the controlling producer to write business during any pending
dispute regarding the cause for the termination. (2) A provision requiring the controlling
producer to give a detailed accounting to the controlled insurer on any material transaction,
including information necessary to support all commissions,...
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27-15-80
Section 27-15-80 Proration of values; net value of paid-up additions. Any cash surrender value
and any paid-up nonforfeiture benefit available under the policy in the event of default in
a premium payment due at any time other than on the policy anniversary shall be calculated
with allowance for the lapse of time and the payment of fractional premiums beyond the last
preceding policy anniversary. All values referred to in Sections 27-15-73, 27-15-74, 27-15-75,
27-15-76, 27-15-77, and 27-15-78 may be calculated on the assumption that any death benefit
is payable at the end of the policy year of death. The net value of any paid-up additions,
other than paid-up term additions, shall not be less than the amounts used to provide such
additions. Notwithstanding the provisions of Section 27-15-73, additional benefits payable
as follows shall be disregarded in ascertaining cash surrender values and nonforfeiture benefits
required by this article, and no such additional benefits shall be...
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27-6A-4
Section 27-6A-4 Contract requirements. No person, firm, association, or corporation acting
in the capacity of a managing general agent shall place business with an insurer unless there
is in force a written contract between the parties that sets forth the responsibilities of
each party and where both parties share responsibility for a particular function, specifies
the division of such responsibilities, and that contains the following minimum provisions:
(a) The insurer may terminate the contract for cause upon written notice to the managing general
agent. The insurer may suspend the underwriting authority of the managing general agent during
the pendency of any dispute regarding the cause for termination. (b) The managing general
agent shall render accounts to the insurer detailing all transactions and remit all funds
due under the contract to the insurer on not less than a monthly basis. (c) All funds collected
for the account of an insurer will be held by the managing general agent...
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25-5-312
Section 25-5-312 Powers and duties of the board. The board shall exercise general supervision
in all matters related to the provision of medical services provided by physicians, as defined
in Section 25-5-310, rendered to workers under this article. The duties of the board shall
include, but are not limited to, the following: (1) Study, develop, and implement any necessary
and reasonable guidelines for medical services and physician care provided by physicians.
In addition, with respect to services provided by physicians, the board shall study, develop,
and recommend to the secretary uniform medical criteria and policies for the conduct of utilization
review, bill screenings, and medical necessity determinations for use by insurance carriers,
self-insurers, and claims administrators. (2) Study, design, and implement standardized uniform
claims processing forms and forms for the reporting of medical information to employers and
insurance companies by physicians. (3) Address and give...
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27-27-7
Section 27-27-7 Solicitation permit - Issuance; contents; compliance with terms. (a) Upon the
filing of any bond required by Sections 27-27-10 or 27-27-16, after notice by the commissioner
provided for in subsection (a) of Section 27-27-6, or upon his decision to grant a solicitation
permit if such a bond is not so required, the commissioner shall issue to the applicant or
to the newly formed corporation, if the application is on behalf of a newly formed incorporated
domestic insurer, a solicitation permit. Every solicitation permit issued by the commissioner
shall contain provisions in substance as follows: (1) State the securities or other rights
or interests for which subscriptions are to be solicited, the number, classes, par value,
and selling price thereof, or identify the insurance contract, or contracts, for which applications
and advance premiums or deposits of premium are to be solicited in the case of mutual or reciprocal
insurers; (2) Require that any particular class of...
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