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27-31B-3
Section 27-31B-3 Licensing. (a) Any captive insurance company, when permitted by its articles
of association, charter, or other organizational document, may apply to the commissioner for
a license to do any and all insurance defined in Sections 27-5-2, 27-5-4, and 27-5-5, in subdivisions
(1), (2), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), and (14) of subsection (a)
of Section 27-5-6, in Sections 27-5-7, 27-5-8, 27-5-9, and 27-5-10, and to grant annuity contracts
as defined in Section 27-5-3, subject, however, to all of the following: (1) No pure captive
insurance company may insure any risks other than those of its parent and affiliated companies
or controlled unaffiliated business. (2) No association captive insurance company may insure
any risks other than those of the member organizations of its association, and their affiliated
companies. (3) No industrial insured captive insurance company may insure any risks other
than those of the industrial insureds that comprise...
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41-10-541
Section 41-10-541 Definitions. (a) The following words and phrases used in this division, and
others evidently intended as the equivalent thereof, shall, in the absence of clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPROPRIATED
FUNDS. Net TVA payments to the extent such payments are pledged and appropriated to the authority
pursuant to Section 41-10-550. (2) AUTHORITY. The public corporation organized pursuant to
this division. (3) AUTHORITY GUARANTY. An agreement of the authority pursuant to which the
payment of debt service referable to bonds, notes, or other evidences of indebtedness of a
development agency is guaranteed by the authority. (4) AUTHORITY OBLIGATIONS. Bonds of the
authority and authority guaranties. (5) AUTHORITY-GUARANTEED OBLIGATIONS. Bonds, notes, or
other evidences of indebtedness of a development agency that are issued solely for the purpose
in financing a project and that are guaranteed, in whole or in part,...
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15-22-43
Section 15-22-43 Special medical parole docket; implementation; factors considered; annual
report. (a)(1) The Board of Pardons and Paroles shall establish a special medical parole docket
and adopt the rules for implementation pursuant to Section 15-22-24(e). For each person considered
for medical parole, the board shall determine whether the person is a geriatric inmate, permanently
incapacitated inmate, or terminally ill inmate for purposes of placing the person on a special
medical parole docket to be considered for parole by the board. An open public hearing shall
be held, pursuant to Section 15-22-23, to consider the medical parole of the inmate. Notices
of the hearing shall be sent pursuant to Sections 15-22-23 and 15-22-36. The notice shall
clearly state the inmate is being considered for a medical parole. (2) The Department of Corrections
shall immediately provide, upon request from the board, a list of geriatric, permanently incapacitated,
and terminally ill inmates who are...
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32-7-22
Section 32-7-22 Motor vehicle liability policy defined; policy provisions. (a) A motor vehicle
liability policy, as the term is used in this chapter, means an owner's or an operator's policy
of liability insurance, certified as provided in Section 32-7-20 or Section 32-7-21 as proof
of financial responsibility, and issued, except as otherwise provided in Section 32-7-21,
by an insurance carrier duly authorized to transact business in this state, to or for the
benefit of the person named in the policy as insured. (b) The owner's policy of liability
insurance: (1) Shall designate by explicit description or by appropriate reference all motor
vehicles to be insured; and (2) Shall insure the person named in the policy and any other
person, as insured, using any motor vehicle or motor vehicles designated in the policy with
the express or implied permission of the named insured, against loss from the liability imposed
by law for damages arising out of the ownership, maintenance, or use of...
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11-94-9
Section 11-94-9 Powers of authority; location of projects. (a) An authority organized and existing
under this chapter shall have the following powers, together with all powers incident thereto
or necessary for the performance of those stated herein: (1) To adopt bylaws for the regulation
of its affairs and the conduct of its business; (2) To adopt an official seal and alter the
same at pleasure; (3) To maintain a principal office in the municipality which is an authorizing
subdivision and sub-offices at such other place or places within the county which is an authorizing
subdivision as its board may designate; (4) To sue and be sued in its own name, excepting
actions in tort against the authority; (5) To acquire, whether by purchase, construction,
exchange, gift, lease, or otherwise and to improve, equip, and furnish and to own and maintain
one or more projects or parts thereof, including all real and personal properties and interests
therein which its board may deem necessary in...
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8-6-2
Section 8-6-2 Definitions. When used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) COMMISSION or SECURITIES COMMISSION. The securities commission. (2) AGENT. Any individual
other than a dealer who represents a dealer or issuer in effecting or attempting to effect
sales of securities, but such term does not include an individual who represents an issuer
in: a. Effecting a transaction in a security exempted by subdivisions (1), (2), (3), (4),
(9) or (10) of Section 8-6-10; b. Effecting transactions exempted by Section 8-6-11; or c.
Effecting transactions with existing employees, partners, or directors of the issuer if no
commission or other remuneration is paid or given directly or indirectly for soliciting any
person in this state. A partner, officer, or director of a dealer or issuer is an agent if
he otherwise comes within this definition. (3) DEALER. Any person engaged in the...
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45-37-123.01
Section 45-37-123.01 Definitions. For the purposes of this part, the following terms shall
have the following meanings: (1) ACT. The act adding this part, to be called the General Retirement
System for Employees of Jefferson County Act. (2) ACTIVE MEMBER. An individual who currently
is employed by the county or other entities set forth in subdivision (20) and is making employee
contributions to the system. (3) ACTUARIAL EQUIVALENT. Effective July 30, 1984, or such other
dates as set forth in Exhibit A, which is maintained in the office of the pension board, a
form of benefit differing in time, period, or manner of payment from a specific benefit provided
under the plan but having the same value when computed using the mortality tables, the interest
rate, and any other assumptions last adopted by the pension board, which assumptions shall
clearly preclude any discretion in the determination of the amount of a member's benefit.
(4) ACTUARIAL GAIN. As defined in Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.01.htm - 27K - Match Info - Similar pages
27-22-2
Section 27-22-2 Industrial fire insurance policies. (a) Industrial fire insurance policies
are policies issued by insurers writing fire and allied lines of insurance through agents
operating on the debit agency system under which system a weekly or monthly collection percentage
is paid based either on actual weekly or monthly premium collections or weekly or monthly
increases of premium collections. (b) No such policy, or such policies, covering any of the
same subjects of insurance shall be issued which provides indemnity exceeding the limits set
by the commissioner as to any one loss resulting from any, or all, of the hazards or perils
insured against. (c) No such policy shall be issued except upon a monthly or weekly premium
payment basis. No discount for premiums paid in advance shall exceed five percent for premiums
paid for six months in advance or 10 percent for premiums paid for 12 months in advance. In
no event shall premiums be collected for more than 12 months in advance....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-22-2.htm - 1K - Match Info - Similar pages
27-35-10
Section 27-35-10 Conversion into stock or mutual life insurance company - Obligation to holders
of policies or certificates; pending actions. (a) The reorganized and converted corporation
shall be obligated to carry out and perform all of the obligations of every kind and character
owing by the former fraternal benefit society to the holders of its policies or beneficial
certificates, and the same may be enforced against it to the same extent as if the policies
and beneficial certificates had been issued by it after such conversion. (b) Any pending actions
wherein the former fraternal benefit society was a party shall be unaffected by the conversion
thereof and shall be prosecuted by or against such reorganized and converted corporation the
same as if the conversion had not taken place. (Acts 1927, No. 537, p. 624; Acts 1971, No.
407, p. 707, §736.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-35-10.htm - 1K - Match Info - Similar pages
27-16-1
Section 27-16-1 "Industrial life insurance" defined. For the purposes of this title,
"industrial life insurance" is that form of life insurance written under policies
of face amount to $2,500.00 or less bearing the words "industrial policy" imprinted
on the face thereof as part of the descriptive matter and under which premiums are payable
monthly or more often. (Acts 1971, No. 407, p. 707, §376.)...
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