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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...
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45-8A-22.118
Section 45-8A-22.118 Maximum benefits; limitations; adjustments. (a) Annual Benefit and Final
Regulations Under Internal Revenue Code Section 415. (1) Annual Benefit. For purposes of this
section, "annual benefit" means the benefit payable annually under the terms of
the plan, exclusive of any benefit not required to be considered for purposes of applying
the limitations of Internal Revenue Code Section 415 to the plan, in the form of a straight
life annuity with no ancillary benefits. If the benefit is payable in any other form, the
annual benefit shall be adjusted to the equivalent of a straight life annuity pursuant to
subsection (c). (2) Final Regulations Under Internal Revenue Code Section 415. Notwithstanding
anything in this section to the contrary, the following provisions apply beginning on or after
January 1, 1976, except as otherwise provided in this section. a. Incorporation by Reference.
The limitations, adjustments, and other requirements prescribed in the plan shall...
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27-15-28.1
Section 27-15-28.1 Standard nonforfeiture law for individual deferred annuities - Annuity contracts
issued by election under this section until June 30, 2006. (a) This section shall be known
as the standard nonforfeiture law for individual deferred annuities. (b) This section shall
not apply to any reinsurance group annuity purchased under a retirement plan or plan of deferred
compensation established or maintained by an employer (including a partnership or sole proprietorship)
or by an employee organization, or by both, other than a plan providing individual retirement
accounts or individual retirement annuities under Section 408 of the Internal Revenue Code,
as now or hereafter amended, premium deposit fund, variable annuity, investment annuity, immediate
annuity, any deferred annuity contract after annuity payments have commenced or reversionary
annuity, nor to any contract which shall be delivered outside this state through an agent
or other representative of the company issuing...
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27-15-28.2
Section 27-15-28.2 Standard nonforfeiture law for individual deferred annuities - Annuity contracts
issued after June 30, 2006, or by election under this section until June 30, 2006. (a) This
section shall be known as the standard nonforfeiture law for individual deferred annuities.
(b) This section shall not apply to any reinsurance group annuity purchased under a retirement
plan or plan of deferred compensation established or maintained by an employer (including
a partnership or sole proprietorship) or by an employee organization, or by both, other than
a plan providing individual retirement accounts or individual retirement annuities under Section
408 of the Internal Revenue Code, as now or hereafter amended, premium deposit fund, variable
annuity, investment annuity, immediate annuity, any deferred annuity contract after annuity
payments have commenced or reversionary annuity, nor to any contract which shall be delivered
outside this state through an agent or other representative...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-28.2.htm - 13K - Match Info - Similar pages
27-36A-4
Section 27-36A-4 Actuarial opinion of reserves. (a) Actuarial opinion prior to the operative
date of the valuation manual as defined by Section 27-36A-15. (1) GENERAL. Every life insurance
company doing business in this state shall annually submit the opinion of a qualified actuary
as to whether the reserves and related actuarial items held in support of the policies and
contracts specified by the commissioner by regulation are computed appropriately, are based
on assumptions which satisfy contractual provisions, are consistent with prior reported amounts,
and comply with applicable laws of this state. The commissioner, by regulation, shall define
the specifics of this opinion and add any other items deemed to be necessary to its scope.
(2) ACTUARIAL ANALYSIS OF RESERVES AND ASSETS SUPPORTING RESERVES. a. Every life insurance
company, except as exempted pursuant to regulation, shall also annually include in the opinion
required by subdivision (1) an opinion of the same qualified...
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27-7-5.1
Section 27-7-5.1 Licenses - Limited license for motor vehicle rental companies. (a) As used
in this section, the following terms shall have the following meanings: (1) RENTAL AGREEMENT.
Any written agreement setting forth the terms and conditions governing the use of a vehicle
provided by the rental company for rental or lease. (2) RENTAL COMPANY. Any person or entity
in the business of providing rental vehicles to the public under a rental agreement for a
period not to exceed 90 days. (3) RENTAL PERIOD. The term of the rental agreement. (4) RENTER.
Any person obtaining the use of a vehicle from a rental company under the terms of a rental
agreement for a period not to exceed 90 days. (5) VEHICLE OR RENTAL VEHICLE. A motor vehicle
of the private passenger type (including passenger vans, minivans, and sport utility vehicles)
and of the cargo type (including cargo vans, pickup trucks, and trucks with gross vehicle
weight of less than 26,000 pounds, which do not require the operator to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-5.1.htm - 6K - Match Info - Similar pages
27-29B-7
Section 27-29B-7 NAIC and third-party consultants. (a) The commissioner, at the insurer's expense,
may retain third-party consultants, including attorneys, actuaries, accountants, and other
experts not otherwise a part of the staff of the commissioner as may be reasonably necessary
to assist the commissioner in reviewing the CGAD and related information or the insurer's
compliance with this chapter. (b) Any persons retained under subsection (a) shall be under
the direction and control of the commissioner and shall act in a purely advisory capacity.
(c) The NAIC and third-party consultants shall be subject to the same confidentiality standards
and requirements as the commissioner. (d) As part of the retention process, a third-party
consultant shall verify to the commissioner, with notice to the insurer, that it is free of
a conflict of interest and that it has internal procedures in place to monitor compliance
with a conflict and to comply with the confidentiality standards and...
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26-1A-404
Section 26-1A-404 Health care powers of attorney executed on or after January 1, 2012. (a)
This section applies to a power of attorney for health care decisions executed on or after
January 1, 2012. (b) A durable power of attorney is a power of attorney by which a principal
designates another his or her attorney in fact or agent in writing and the writing contains
the words "This power of attorney shall not be affected by disability, incompetency,
or incapacity of the principal" or "This power of attorney shall become effective
upon the disability, incompetency, or incapacity of the principal" or similar words showing
the intent of the principal that the authority conferred shall be exercisable notwithstanding
the principal's subsequent disability, incompetency, or incapacity. (c)(1) A principal may
designate under a durable power of attorney an individual who shall be empowered to make health
care decisions on behalf of the principal, in the manner set forth in the Natural Death Act,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/26-1A-404.htm - 8K - Match Info - Similar pages
37-4-140
Section 37-4-140 Purchase of electricity. (a) For purposes of this section only, the following
terms shall have the following meanings: (1) AVOIDED COSTS. Costs that a utility or a commission
non-jurisdictional electric supplier which purchases electrical energy from a distributed
generation facility would have been required to incur but for the distributed generation facility's
provision of electrical energy during the same period of time. To the extent such costs are
actually avoided, the term may include incremental fuel costs, incremental energy losses,
incremental emission allowance costs, and incremental fuel-related operation and maintenance
expenses. The term does not include, among other things, costs associated with capacity, the
transmission and distribution system, administrative and general costs, customer accounting
costs, and general plant in service costs. (2) COMMISSION. The Alabama Public Service Commission.
(3) COMMISSION NON-JURISDICTIONAL ELECTRIC SUPPLIER. a. A...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-4-140.htm - 9K - Match Info - Similar pages
38-13-2
Section 38-13-2 Definitions. When used in this chapter, the following words shall have the
following meanings: (1) ADULT. An individual 19 years of age and older. (2) ADULT CARE FACILITY.
A person or entity holding a Department of Human Resources license or approval or certification
to provide care, including foster care, for adults. (3) APPLICANT. A person or entity who
submits an application for license as a child care or adult care facility to the Department
of Human Resources or a child placing agency, or an application for employment or for a volunteer
position to a Department of Human Resources licensed child care or adult care facility. With
regard to child care and adult care facilities in a home setting, the term includes an adult
household member whose residence is in the home. The term also includes an individual who
submits an application for a volunteer position or for employment with the Department of Human
Resources in a position in which the person has unsupervised...
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