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45-49-90.07
Section 45-49-90.07 Powers of corporation; location of industrial park. (a) The corporation
shall have all of the following powers, together with all powers incidental thereto or necessary
for the performance of those stated in this subsection: (1) To have succession by its corporate
name for the period specified in the certificate of incorporation unless sooner dissolved
as provided in this part. (2) To sue and be sued and to prosecute and defend civil actions
in any court having jurisdiction of the subject matter and of the parties. (3) To have and
to use a corporate seal and to alter the same at pleasure. (4) To acquire, whether by purchase,
construction, exchange, gift, lease or otherwise, improve, maintain, equip, and furnish one
or more industrial parks, including all real and personal properties which the board of directors
of the corporation may deem necessary in connection therewith and regardless of whether or
not any such industrial parks or any part thereof shall then be in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49-90.07.htm - 4K - Match Info - Similar pages
16-13-302
Section 16-13-302 Issuance authorized; purposes; refunding warrants; powers of the boards;
mandamus for payment. (a) In addition to all other notes, obligations, warrants, and other
forms or types of indebtedness which any board shall have the power to issue pursuant to laws
other than this article, each board shall have full and continuing power from time to time
to issue and sell warrants for educational and public school purposes, including, without
limitation, the following: (1) For the purpose of paying the costs of public school facilities.
(2) For the purpose of paying or refunding all or any portion (principal or interest or premium)
of any refundable debt then outstanding, whether such refunding shall occur before, at, or
after the maturity of the refundable debt to be refunded. (3) For the payment of extraordinary,
nonrecurring items that are not customarily payable from current revenues, including, without
limitation, casualty losses, legal judgments, and payments due upon...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-13-302.htm - 3K - Match Info - Similar pages
27-32-39
Section 27-32-39 Priority of claims of policyholders and beneficiaries - Reinsuring of policies.
(a) When, upon hearing, the circuit court having jurisdiction of a receivership shall determine
it to be in the best interest of the policyholders and the public, the court may order and
direct the receiver to reinsure the policies of the insurer with a solvent insurer to the
extent of the assets available in the receivership. The circuit court is hereby empowered
to place a lien or moratorium against policy benefits and values as necessary to reinsure
all policyholders as fully as possible to the extent of assets available and to order the
receiver to transfer such assets as determined adequate, necessary, or available to reinsure
policies of the insolvent insurer with a solvent insurer, to the exclusion of general creditors
should no assets remain thereafter. (b) Except as provided in subsection (c), reinsurance
shall be payable under a contract reinsured by the assuming insurer on the...
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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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6A-4.htm - 6K - Match Info - Similar pages
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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27-31B-6
Section 27-31B-6 Minimum capital and surplus. (a) No captive insurance company shall be issued
a license unless it shall possess and thereafter maintain unimpaired paid-in capital and surplus
as follows: (1) In the case of a pure captive insurance company, not less than two hundred
fifty thousand dollars ($250,000) or such other amount determined by the commissioner and
actuarially supported by a feasibility study. (2) In the case of an association captive insurance
company or risk retention group, not less than five hundred thousand dollars ($500,000) or
such other amount determined by the commissioner and actuarially supported by a feasibility
study. (3) In the case of an industrial insured captive insurance company, not less than five
hundred thousand dollars ($500,000). (4) In the case of a protected cell captive insurance
company, not less than two hundred fifty thousand dollars ($250,000) or such other amount
determined by the commissioner and actuarially supported by a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-6.htm - 3K - Match Info - Similar pages
41-10-356
Section 41-10-356 Powers of authority. The authority shall have the following powers among
others specified in this article: (1) To have succession by its corporate name until dissolved
as provided in this article; (2) To sue and be sued and to prosecute and defend, at law or
in equity, in any court having jurisdiction of the subject matter and of the parties thereto;
(3) To have and to use a corporate seal and to alter the same at pleasure; (4) To make and
alter all needful bylaws, rules and regulations for the transaction of the authority's business
and the control of its property and affairs; (5) To provide for the acquisition, construction,
installation, equipping, operation and maintenance of mental health facilities, including
the equipping and improvement of existing mental health facilities; (6) To receive, take and
hold by sale, gift, lease, devise or otherwise, real and personal property of every description,
and to manage the same; (7) To acquire by purchase, gift, or any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-356.htm - 4K - Match Info - Similar pages
22-3A-7
Section 22-3A-7 Powers of authority. The authority shall have the following powers among others
specified in this chapter: (1) To have succession by its corporate name until dissolved as
provided in this chapter; (2) To sue and be sued and to prosecute and defend, at law or in
equity, in any court having jurisdiction of the subject matter and of the parties thereto;
(3) To have and to use a corporate seal and to alter the same at pleasure; (4) To make and
alter all needful bylaws, rules and regulations for the transaction of the authority's business
and the control of its property and affairs; (5) To provide for the acquisition, construction,
installation, equipping, operation and maintenance of public health facilities, including
the equipping and improvement of existing public health facilities, and to vest title to such
facilities or to cause or permit title to such facilities to be vested in the authority, the
State Board of Health or county board(s) of health, as the directors...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-3A-7.htm - 3K - Match Info - Similar pages
36-30-50
Section 36-30-50 Supplemental insurance coverage for firefighters with cancer. (a) For the
purposes of this section, the following terms shall have the following meanings: (1) CANCER.
Includes bladder, blood, brain, breast, cervical, esophageal, intestinal, kidney, lymphatic,
lung, prostate, rectum, respiratory tract, skin, testicular, and thyroid cancer, leukemia,
multiple myeloma, Hodgkin's lymphoma, and non-Hodgkin's lymphoma. (2) CAREER FIREFIGHTER.
Any person employed with the state, a county or municipal government, an airport authority,
or a fire district who has obtained certification as a firefighter through and as defined
by the Alabama Firefighters' Personnel Standards and Education Commission, or a firefighter
employed by the Alabama Forestry Commission who has been certified by the State Forester as
having met the wild land firefighter training standard of the National Wildfire Coordinating
Group, and is offered typical employment benefits, including health insurance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-30-50.htm - 10K - Match Info - Similar pages
40-14B-1
Section 40-14B-1 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) AFFILIATE. An affiliate of another person shall include any of the following:
a. A person who directly or indirectly either: 1. Beneficially owns 15 percent or more of
the outstanding voting securities or other voting ownership interests of the other person,
whether through rights, options, convertible interests, or otherwise; or 2. Controls or holds
power to vote 15 percent or more of the outstanding voting securities or other voting ownership
interests of the other person. b. A person owning 15 percent or more of the outstanding voting
securities or other voting ownership interests of which are directly or indirectly either:
1. Beneficially owned by the other person, whether through rights, options, convertible interests,
or otherwise; or 2. Controlled or held with power to vote by the other person. c. A partnership
or limited liability company in which the other person...
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