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27-17A-3
Section 27-17A-3 Funding of preneed contracts; premium payments; commissions; preneed
seller as beneficiary or assignee. (a) Nothing in this chapter shall be construed to prohibit
the funding of preneed contracts with multiple insurance or annuity contracts. Life insurance
and annuity contracts used to fund preneed contracts shall conform with the provisions of
this title as they relate to life insurance and annuities and shall cover not less than the
initial retail price of the preneed contract. (b) The initial premium payment for a life insurance
policy or annuity contract shall be made payable to the issuing insurance company and the
preneed seller shall remit the payment to the insurance company within 10 business days after
the insurance application is signed by the parties. If a preneed contract provides for installment
payments, each premium payment shall be made payable to the insurance company and, if collected
by the preneed seller, shall be remitted to the insurance company...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17A-3.htm - 2K - Match Info - Similar pages
27-36A-7
Section 27-36A-7 Computation of minimum standard by calendar year of issue. (a) The
interest rates used in determining the minimum standard for the valuation of the following
shall be the calendar year statutory valuation interest rates as defined in this section:
(1) Life insurance policies issued in a particular calendar year, on or after the operative
date of Section 27-15-78. (2) Individual annuity and pure endowment contracts issued
in a particular calendar year on or after January 1, 1982. (3) Annuities and pure endowments
purchased in a particular calendar year on or after January 1, 1982, under group annuity and
pure endowment contracts. (4) The net increase, if any, in a particular calendar year after
January 1, 1982, in amounts held under guaranteed interest contracts. (b) Calendar year statutory
valuation interest rates. (1) The calendar year statutory valuation interest rates, I, shall
be determined as follows and the results rounded to the nearest one-quarter of one...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-7.htm - 12K - Match Info - Similar pages
36-29-6
Section 36-29-6 Authorization and execution of contracts; documentation of benefits.
(a) The board is hereby authorized to execute a contract or contracts to provide the plan
determined in accordance with the provisions of this chapter. 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 chapter
may be included in one or more similar contracts issued by the same or different companies.
(b) Before entering into any contract or contracts authorized by subsection (a) of this section,
the board shall invite competitive bids from all qualified entities who may wish to administer
or offer plans for the health insurance coverage desired. The board shall award such contract
or contracts on a competitive basis as determined by the benefits afforded, administrative
costs, the costs to be incurred by employee, retiree, and employer, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-29-6.htm - 3K - Match Info - Similar pages
40-22-2
Section 40-22-2 Mortgages, deeds of trust, etc., generally. No mortgage, deed of trust,
contract of conditional sale, or other instrument of like character which is given to secure
the payment of any debt which conveys any real or personal property situated within this state
or any interest therein or any security agreement or financing statement provided for by the
Uniform Commercial Code, except a security agreement or a financing statement relating solely
to security interests in accounts, contract rights, or general intangibles, as such terms
are defined in the Uniform Commercial Code, and except for the re-recordation of corrected
mortgages, deeds, or instruments executed for the purpose of perfecting the title to real
or personal property, specifically, but not limited to, corrections of maturity dates thereof,
shall be received for record or for filing in the office of any probate judge of this state
unless the following privilege or license taxes shall have been paid upon such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-22-2.htm - 16K - Match Info - Similar pages
6-11-51
Section 6-11-51 Definitions. As used in this article the following words and terms shall
have the following meanings: (1) ANNUITY ISSUER. An insurer that has issued a contract to
fund periodic payments under a structured settlement. (2) DEPENDENTS. A payee's spouse and
minor children and all other persons for whom the payee is legally obligated to provide support,
including alimony. (3) DISCOUNTED PRESENT VALUE. The present value of future payments determined
by discounting the payments to the present using the most recently published applicable federal
rate for determining the present value of an annuity, as issued by the United States Internal
Revenue Service. (4) GROSS ADVANCE AMOUNT. The sum payable to the payee or for the payee's
account as consideration for a transfer of structured settlement payment rights before any
reductions for transfer expenses or other deductions to be made from the consideration. (5)
INDEPENDENT PROFESSIONAL ADVICE. Advice of an attorney, certified public...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-11-51.htm - 5K - Match Info - Similar pages
27-40-10
Section 27-40-10 Delinquency and cancellation charges. A premium finance agreement may
provide for the payment by the insured of the delinquency charge of $1.50 to a maximum of
five percent of the delinquent installment which is in default for a period of five days or
more. If the default results in the cancellation of any insurance contract listed in the agreement,
the agreement may provide for the payment by the insured of a cancellation charge of $5.00
in the case of a consumer insurance premium finance agreement and $15.00 in the case of a
commercial insurance premium finance agreement. (Acts 1975, No. 1042, p. 2088, §10; Acts
1986, No. 86-400, p. 586, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-40-10.htm - 981 bytes - Match Info - Similar pages
33-1-25
Section 33-1-25 Port authority authorized to carry fire and casualty and public liability
insurance. The Alabama State Port Authority is hereby authorized to 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 to
or death of persons, and the loss of or destruction of properties of others; and may pay the
premiums thereon out of the revenues of the port authority. Nothing herein shall be construed
to authorize or permit the institution of any civil action or proceeding in any court against
the port authority for or on account of any matters referred to in this section; provided,
that any contracts of insurance herein authorized may, in the discretion of the director of
the port authority, provide for a direct right of action against the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-1-25.htm - 2K - Match Info - Similar pages
8-36-2
Section 8-36-2 Cancellation of residential roofing contract; notice of cancellation;
payments. (a) A person who has entered into a written contract with a residential roofing
contractor to provide goods or services to be paid from the proceeds of a property and casualty
insurance policy may cancel the contract prior to midnight on the fifth business day if the
insured receives written notice from the insurer that all or any part of the claim or contract
is not a covered loss under the insurance policy or that the covered claim will not be sufficient
to cover the amount of the contract. Cancellation shall be evidenced by the insured giving
written notice of cancellation to the residential roofing contractor at the address stated
in the contract. Notice of cancellation, if given by mail, shall be effective upon deposit
into the United States mail, postage prepaid and properly addressed to the residential roofing
contractor and, if given by electronic mail, shall be effective if sent to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-36-2.htm - 4K - Match Info - Similar pages
27-19A-12
Section 27-19A-12 Dental services - Coverages; fees; exceptions. (a) As used in this
section, the following terms shall have the following meanings: (1) COVERED PERSON.
Any individual, family, or family member on whose behalf third-party payment or prepayment
of health or medical expenses is provided under an insurance policy, plan, or contract providing
for third-party payment or prepayment of health care or medical expenses. (2) COVERED SERVICES.
Dental care services for which a reimbursement is available under an enrollee's plan contract,
or for which a reimbursement would be available but for the application of contractual limitations
such as deductibles, copayments, coinsurance, waiting periods, annual or lifetime maximums,
frequency limitations, alternative benefit payments, or any other limitation. (3) DENTAL CARE
PROVIDER. A licensed dentist. (4) DENTAL PLAN. Includes any policy of insurance which is issued
by a health care service contractor which provides for coverage of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19A-12.htm - 2K - Match Info - Similar pages
16-22-5
Section 16-22-5 Authority of school boards to form groups for purpose of obtaining group
insurance; payment of insurance premiums. Each local board of education may form its employees
into a group or groups or recognize existing groups for the purpose of obtaining the advantages
of group life, disability, medical and dental insurance or any group insurance plans to aid
its employees, as long as the employees continue to be employed by the board of education.
Any local board of education may pay all or part of the premium on the policies and/or may
deduct from the salaries of the employees that part of the premium which is to be paid by
them and may contract with the insurer to provide the above benefits. (Acts 1973, No. 655,
p. 984, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-22-5.htm - 1K - Match Info - Similar pages
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