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27-27-36
Section 27-27-36 Issuance of participating or nonparticipating policies by domestic
insurers. Unless prohibited by its articles of incorporation, a domestic stock or domestic
mutual insurer may issue any, or all, of its policies with, or without, participation in profits,
savings, or unabsorbed portions of premiums, may classify policies issued on a participating
and nonparticipating basis, and may determine the right to participate and the extent of participation
of any class, or classes, of policies. Any such classification or determination shall be reasonable
and shall not unfairly discriminate as between policyholders within the same such classifications.
A life insurer may issue both participating and nonparticipating policies only if the right
or absence of right to participate is reasonably related to the premium charged. (Acts 1971,
No. 407, p. 707, ยง532.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-36.htm - 1K - Match Info - Similar pages
27-31B-16
Section 27-31B-16 Tax on premiums collected. (a) Each captive insurance company shall
pay to the commissioner, by March 1 of each year, a tax at the rate of four-tenths of one
percent on the first 20 million dollars, three-tenths of one percent on the next 20 million
dollars, two-tenths of one percent on the next 20 million dollars, seventy-five thousandths
of one percent on each dollar thereafter on the direct premiums collected or contracted for
on policies or contracts of insurance written by the captive insurance company during the
year ending December 31 next preceding, after deducting from the direct premiums subject to
the tax the amounts paid to policyholders as return premiums which shall include dividends
on unabsorbed premiums or premium deposits returned or credited to policyholders. Notwithstanding
the foregoing, no tax shall be due or payable as to considerations received for annuity contracts.
(b) Each captive insurance company shall pay to the commissioner by March 1 of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-16.htm - 6K - Match Info - Similar pages
27-31D-2
Section 27-31D-2 Premium discount or insurance rate reduction - Fortified existing homes.
(a) Commencing on May 14, 2009, insurance companies shall provide a premium discount or insurance
rate reduction in an amount and manner as established in subsection (g) and pursuant to Section
27-31D-3. In addition, insurance companies may also offer additional adjustments in deductible,
other credit rate differentials, or a combination thereof, collectively referred to as adjustments.
These adjustments shall be available under the terms specified in this section to any
owner who retrofits his or her insurable property located in the State of Alabama to resist
loss due to hurricane or other catastrophic windstorm events. (b) To obtain the adjustment
provided in this section, an insurable property shall be retrofitted to any of the
following: (1) The Fortified Home: Hurricane Standards (FHH), or the Fortified Home: Highwind
and Hail Standards (FHWH) requirements as may from time to time be adopted...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31D-2.htm - 4K - Match Info - Similar pages
27-4A-3
Section 27-4A-3 Generally. (a) Subject to the exceptions and exemptions hereinafter
set forth, for the year beginning on January 1, 1995, and for each year thereafter, every
insurer shall pay to the commissioner a premium tax equal to the percentage, as set out in
this subsection, of the premiums received by the insurer for business done in this state,
whether the same was actually received by the insurer in this state or elsewhere: (1) PREMIUM
TAX ON LIFE INSURANCE PREMIUMS. a. Except as hereinafter provided, the rates of taxation on
life insurance premiums shall be those amounts set out in the following schedule: Year Foreign
Insurers Domestic Insurers 1995 2.9 1.3 1996 2.8 1.6 1997 2.7 1.8 1998 2.5 2.1 Every Year
Thereafter 2.3 2.3 b. Individual life insurance policies in a face amount of greater than
$5,000 and up to and including $25,000, excluding group life insurance policies, shall be
taxed at the rate of one percent per annum. c. Individual life insurance policies in a face...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-4A-3.htm - 16K - Match Info - Similar pages
40-18-15.5
Section 40-18-15.5 Deductions for certain retrofitting or upgrades to homes - Residence
in Alabama. (a) Any individual taxpayer, whose legal residence is located in Alabama, shall
be allowed a deduction from taxable income, regardless of whether the taxpayer itemizes his
or her income tax deductions, in calculating the income tax imposed pursuant to Section
40-18-5, for certain retrofit costs as described in this section. The deduction shall
be allowed for the costs incurred to retrofit a structure qualifying as the legal residence
of the taxpayer to make the structure more resistant to loss due to hurricane, tornado, other
catastrophic windstorm event, or rising floodwaters. (b) In order to qualify for the state
income tax deduction allowed pursuant to this section, costs may include ordinary repair,
replacement, and upgrades to existing residential property and new construction so long as
the repair, replacement, and upgrades are designed to resist loss associated with any windstorm...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-15.5.htm - 2K - Match Info - Similar pages
27-31D-1
Section 27-31D-1 Premium discount or insurance rate reduction - Construction and certification.
(a) Commencing on May 14, 2009, insurance companies shall provide a premium discount or insurance
rate reduction in an amount and manner as established in subsection (j) and pursuant to Section
27-31D-3. In addition, insurance companies may also offer additional adjustments in deductible,
other credit rate differentials, or a combination thereof, collectively referred to as adjustments.
These adjustments shall be available under the terms specified in this section to any
owner who builds or locates a new insurable property, in the State of Alabama, to resist loss
due to hurricane or other catastrophic windstorm events. (b) To obtain the adjustment provided
in this section, an insurable property located in this state shall be certified as
constructed in accordance with either of the following: (1) The 2006 International Residential
Code, as amended, including all hurricane mitigation...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31D-1.htm - 4K - Match Info - Similar pages
27-15-53
Section 27-15-53 Requirements for death master file comparisons. (a) An insurer shall
perform a comparison of its insureds' in-force life insurance policies, annuity contracts,
and retained asset accounts against a death master file, to identify potential death master
file matches of its insureds. Such comparison shall be completed by January 1, 2019. Thereafter,
an insurer shall maintain a program designed to compare each such policy, contract, or account
with a death master file no less frequently than every three years, it being the intent that
insurers fashion a program that best fits their business systems while at the same time protecting
consumers by assuring reasonable checks are being performed to identify unreported deaths.
For those potential death master file matches identified as a result of a death master file
comparison, the insurer shall do all of the following: (1) Within 90 days of a death master
file match: a. Complete a commercially reasonable effort, which shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-53.htm - 5K - Match Info - Similar pages
27-44-3
Section 27-44-3 Scope of chapter. (a) This chapter shall provide coverage for the policies
and contracts specified in subsection (b) as follows: (1) To persons who, regardless of where
they reside (except for non-resident certificate holders under group policies or contracts),
are the beneficiaries, assignees, or payees of the persons covered under subdivision (2).
(2) To persons who are owners of or certificate holders under the policies or contracts, other
than structured settlement annuities, and in each case who are either of the following: a.
Residents b. Not residents, but only under all of the following conditions: 1. The insurer
that issued the policies or contracts is domiciled in this state. 2. The states in which the
persons reside have associations similar to the association created by this chapter. 3. The
persons are not eligible for coverage by an association in any other state due to the fact
the insurer was not licensed in the state at the time specified in the state's...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-3.htm - 12K - Match Info - Similar pages
27-32-33
Section 27-32-33 Assessments - Levy. (a) Upon the basis of the report provided for in
Section 27-32-32, including any amendments thereto, the court may, of its own motion,
order the commissioner to levy one or more assessments against all members of such insurer
who, as shown by the records of the insurer, were members, if a mutual insurer, or subscribers,
if a reciprocal insurer, at any time within one year prior to the date of issuance of the
order to show cause under Section 27-32-4. (b) Such assessment or assessments shall
cover the excess of the probable liabilities over the reasonable value of the assets, together
with the estimated cost of collection and percentage of uncollectability thereof. The total
of all assessments against any member or subscriber with respect to any policy, whether levied
pursuant to this chapter or pursuant to any other provision of law, shall be for no greater
amount than that specified in the policy or policies of the member or subscriber; except,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-33.htm - 1K - Match Info - Similar pages
22-50-11
Section 22-50-11 Department - Additional and cumulative powers. The Department of Mental
Health is given hereby the following additional and cumulative powers through its commissioner:
(1) It is authorized and directed to set up state plans for the purpose of controlling and
treating any and all forms of mental and emotional illness and any and all forms of mental
retardation and shall divide the state into regions, districts, areas or zones, which need
not be geographic areas, but shall be areas for the purpose of establishing priorities and
programs and for organizational and administrative purposes in accordance with these state
plans. (2) It is designated and authorized to supervise, coordinate, and establish standards
for all operations and activities of the state related to mental health and the providing
of mental health services; and it is authorized to receive and administer any funds available
from any source for the purpose of acquiring building sites for, constructing,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-50-11.htm - 10K - Match Info - Similar pages
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