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37-6-3
Section 37-6-3 Enumerated powers. A cooperative shall have the power: (1) To sue and
be sued in its corporate name. (2) To adopt a corporate seal and alter the same at its pleasure.
(3) To generate, manufacture, purchase, acquire and transmit electric energy and to distribute,
sell, supply and dispose of electric energy to its members, to governmental agencies and political
subdivisions and to other persons; provided, however, that should a cooperative acquire any
electric facilities dedicated or devoted to the public use, it may continue to serve the persons
served directly from such facilities at the time of such acquisition without requiring that
such persons become members, and, provided further, that such nonmembers shall have the right
to become members upon nondiscriminatory terms. Cooperatives may not condition membership
or provision of service on compliance by the member with requirements not directly related
to the electric or other service to be provided by the cooperative....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-6-3.htm - 19K - Match Info - Similar pages
27-38-1
Section 27-38-1 Establishment of separate accounts by life insurers to provide for life
insurance or annuities and benefits incidental thereto. A life insurer organized under the
laws of this state may, by or pursuant to a resolution of its board of directors, establish
one or more separate accounts and may allocate thereto amounts, including without limitation
proceeds applied under optional modes of settlement or under dividend options, to provide
for life insurance or annuities, and benefits incidental thereto, payable in fixed or variable
amounts or both, subject to the following: (1) The income, gains, and losses, realized or
unrealized, from assets allocated to a separate account shall be credited to, or charged against,
the account, without regard to other income, gains, or losses of the insurer; (2) Except as
provided in this section, amounts allocated to any separate account, and accumulations
thereon, may be invested and reinvested without regard to any requirements or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-38-1.htm - 6K - Match Info - Similar pages
41-9-351
Section 41-9-351 Commission may provide for insurance for properties and employees.
(a) The commission may provide insurance covering loss or damage to its properties or any
properties of others in its custody, care, or control or any properties as to which it has
any insurable interest caused by fire or other casualty and may likewise provide insurance
for the payment of damages on account of the injury or death of persons and the loss or destruction
of properties of others, and may pay the premiums out of the revenues of the commission. Nothing
in this section shall be construed to authorize or permit the institution of any civil
action or proceeding in any court against the commission for or on account of any matter referred
to in this section. Any contracts of insurance authorized by this section may,
in the discretion of the chair of the commission, provide for a direct right of action against
the insurance carrier for the enforcement of any claims or causes of action. (b) The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-351.htm - 3K - Match Info - Similar pages
41-16A-5
Section 41-16A-5 Permissible contract provisions; general and limited obligation distinction
may be made; allowable pledge payment sources; classification of entity's contracting and
contracts. (a) Alternative financing contracts may be for such term, provide for such renewal
or extension options, provide for such terminating events, provide for the payment of such
rentals, purchase installments, purchase price, and other amounts, and contain such other
terms, provisions, and conditions as the governmental entity shall deem appropriate, and without
limitation to the generality of the foregoing, may contain terms and conditions substantially
similar to any one or more of the following: (1) Provisions for the automatic renewal of the
alternative financing contract for one or more successive periods unless affirmative action
is taken by the governmental entity to terminate such alternative financing contract, and,
if desired, specifying the nature of such affirmative action sufficient to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-16A-5.htm - 12K - Match Info - Similar pages
27-14-25
Section 27-14-25 Receipt and giving of acquittance and discharge for payment by minors.
(a) Any minor domiciled in this state who has attained the age of 18 years shall be deemed
competent to receive and to give full acquittance and discharge for a payment, or payments,
in aggregate amount not exceeding $3,000.00 in any one year, made by a life insurer under
the maturity, death, or settlement agreement provisions in effect or elected by such minor
under a life insurance policy or annuity contract, provided such policy, contract, or agreement
shall provide for the payment, or payments, to such minor and if, prior to such payment, the
insurer has not received written notice of the appointment of a duly qualified guardian of
the property of such minor. No such minor shall be deemed competent to alienate the right
to, or to anticipate, such payments. This section shall not be deemed to restrict the
rights of minors set forth in Section 27-14-5. (b) This section shall not be
deemed to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-25.htm - 1K - Match Info - Similar pages
27-19-103
Section 27-19-103 Definitions. Unless the context requires otherwise, the definitions
in this section apply throughout this article. (1) APPLICANT. In the case of: a. An
individual long-term care insurance policy, the person who seeks to contract for benefits.
b. A group long-term care insurance policy, the proposed certificate holder. (2) CERTIFICATE.
Any certificate issued under a group long-term care insurance policy, which policy has been
delivered or issued for delivery in this state. (3) COMMISSIONER. The Alabama Commissioner
of Insurance. (4) GROUP LONG-TERM CARE INSURANCE. A long-term care insurance policy which
is delivered or issued for delivery in this state and issued to any of the following: a. One
or more employers or labor organizations, or to a trust or to the trustees of a fund established
by one or more employers or labor organizations, or a combination thereof, for employees or
former employees or a combination thereof, or for members or former members or a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-103.htm - 9K - Match Info - Similar pages
25-5-8
Section 25-5-8 Employers' options to secure payment of compensation. (a) Option to insure
risks. An employer subject to this chapter may secure the payment of compensation under this
chapter by insuring and keeping insured his or her liability in some insurance corporation,
association, organization, insurance association, corporation, or association formed of employers
and workers or formed by a group of employers to insure the risks under this chapter, operating
by mutual assessment or other plans or otherwise. Notwithstanding the foregoing, the insurance
association, organization, or corporation shall have first had its contract and plan of business
approved in writing by the Commissioner of the Department of Insurance of Alabama and have
been authorized by the Department of Insurance to transact the business of workers' compensation
insurance in this state and under the plan. Notwithstanding any other provision of the law
to the contrary, the obligations of employers under law for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-8.htm - 14K - Match Info - Similar pages
34-27-58
Section 34-27-58 Acts constituting violation of article - Failure to place 50 percent
of cash, etc., received in escrow; failure to provide liability insurance, etc. (a) It shall
be a violation of this article for a seller of vacation time-sharing lease plans to fail to:
(1) Place in escrow 50 percent of the cash and receivables received from the purchasers of
such plans, such receivables to be assessed at net principal value. a. The purpose of such
escrow account is to protect the purchaser's right to a refund if at any time the accommodations
and facilities are no longer available as provided in the contract; provided however, nothing
contained in this section shall operate to deny the seller the option to repair, replace,
or reconstruct, within a reasonable time, the accommodations or facilities, if destroyed or
damaged. b. The purchaser shall be entitled to a refund from the escrow account upon the conditions
described above in an amount which represents the buyer's pro rata share...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-58.htm - 8K - Match Info - Similar pages
27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus
Lines Insurance Multi-State Compliance Compact Act is enacted into law and entered into with
all jurisdictions mutually adopting the compact in the form substantially as follows: PREAMBLE
WHEREAS, with regard to Non-Admitted Insurance policies with risk exposures located in multiple
states, the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted
and Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
35-12-71
Section 35-12-71 Definitions. As used in this article, unless the context otherwise
requires, the following terms shall have the meanings respectively ascribed to them by this
section: (1) APPARENT OWNER. A person whose name appears on the records of a holder
as the person entitled to property held, issued, or owing by the holder. (2) BUSINESS ASSOCIATION.
A corporation, joint stock company, investment company, partnership, unincorporated association,
joint venture, limited liability company, business trust, trust company, safe deposit company,
financial organization, insurance company, mutual fund, utility, or other business entity
consisting of one or more persons, whether or not for profit. (3) DOMICILE. The state of incorporation
of a corporation and the state of the principal place of business of a holder other than a
corporation. (4) FINANCIAL ORGANIZATION. A savings and loan association, building and loan
association, industrial loan organization, credit union, cooperative bank,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-71.htm - 6K - Match Info - Similar pages
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