27-10-36
Section 27-10-36 Production of policies, etc., for inspection by commissioner. Every person as to whom insurance is placed with an unauthorized insurer, upon the commissioner's order, shall produce for his examination all policies and other documents evidencing the insurance and shall disclose to the commissioner the amount of gross premiums paid, or agreed to be paid, for the insurance. For each willful refusal to obey such order, such person shall be liable to a fine of not more than $500.00. (Acts 1963, No. 521, p. 1112, §23; Acts 1971, No. 407, p. 707, §211.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-36.htm - 881 bytes - Match Info - Similar pages
27-27-60
Section 27-27-60 Insider trading of domestic stock insurer equity securities - Rules and regulations. The commissioner shall have the power to make such rules and regulations as may be necessary for the execution of the functions vested in him by Sections 27-27-53 through 27-27-59 and may for such purpose classify domestic stock insurance companies, securities, and other persons or matters within his jurisdiction. No provision of Sections 27-27-53 through 27-27-55 imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule or regulation of the commissioner, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or determined by judicial or other authority to be invalid for any reason. (Acts 1971, No. 407, p. 707, §556.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-60.htm - 1K - Match Info - Similar pages
27-6A-7
Section 27-6A-7 Penalties. (a) If the commissioner finds after a hearing conducted in accordance with Section 27-2-28, that any person has violated this chapter, the commissioner may order: (1) For each separate violation, a penalty in an amount of up to $5,000. (2) Revocation or suspension of the managing general agent's license. (3) The managing general agent to reimburse the insurer, the rehabilitator, or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this chapter committed by the managing general agent. (b) The decision, determination, or order of the commissioner pursuant to subsection (a) of this section shall be subject to judicial review pursuant to Section 27-2-31. (c) No provision of this section shall affect the right of the commissioner to impose any other penalties provided for in the insurance law, rule, or regulation. (d) No provision of this chapter is intended to or shall in any manner limit or restrict the rights of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6A-7.htm - 1K - Match Info - Similar pages
27-2-23
Section 27-2-23 Examinations - How conducted. (a) The examination may be conducted by the commissioner or his accredited examiners at the offices wherever located of the person being examined and at such other places as may be required for determination of matters under examination. (b) Every person being examined, its officers, attorneys, employees, agents, and representatives, shall make freely available to the commissioner or his examiners the accounts, records, documents, files, information, assets, and matters in his possession or control relating to the subject of the examination. (c) If the commissioner or examiner finds any account or record of an insurer being examined to be inadequate or inadequately kept or posted for proper examination of the condition and affairs of the examinee, he shall give written notice to such examinee specifying: (1) The deficiencies to be corrected; and (2) A reasonable period within which to correct the stated deficiencies. If the examinee fails...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-2-23.htm - 2K - Match Info - Similar pages
27-22A-1
Section 27-22A-1 Definitions. For purposes of this chapter, the following terms have the following meanings: (1) COMMISSIONER. The Alabama Commissioner of Insurance. (2) CUSTOMER. A person who purchases portable electronics or services. (3) DEPARTMENT. The Alabama Department of Insurance. (4) ENROLLED CUSTOMER. A customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics. (5) LOCATION. Any physical location in the State of Alabama or any website, call center site, or similar location directed to residents of the State of Alabama. (6) PORTABLE ELECTRONICS. Electronic devices that are portable in nature, their accessories and services related to the use of the device. (7) PORTABLE ELECTRONICS INSURANCE. a. Insurance providing coverage for the repair or replacement of portable electronics which may provide coverage for portable electronics against any one or more of the following causes of loss: Loss, theft, inoperability due to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-22A-1.htm - 2K - Match Info - Similar pages
27-27-57
Section 27-27-57 Insider trading of domestic stock insurer equity securities - Applicability of Sections 27-27-53 through 27-27-55. The provisions of Sections 27-27-53 through 27-27-55 shall not apply to foreign or domestic arbitrage transactions unless made in contravention of such rules and regulations as the commissioner may adopt in order to carry out the purposes of this chapter. (Acts 1971, No. 407, p. 707, §553.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-57.htm - 730 bytes - Match Info - Similar pages
27-2-19
Section 27-2-19 Enforcement of insurance code. The commissioner may institute such actions or other proceedings as may be required for enforcement of any provisions of this title. If the commissioner has reason to believe that any person has violated any provision of this title for which criminal prosecution would be in order, he shall give the information relative thereto to the Attorney General or the district attorney having jurisdiction of any such violation. The Attorney General shall promptly institute such action or proceeding against such person as the information may require or justify. (Acts 1971, No. 407, p. 707, §30.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-2-19.htm - 943 bytes - Match Info - Similar pages
27-28-1
Section 27-28-1 Plan for exchange of stock, etc., between domestic stock insurer and holding company - Authority. A domestic stock insurance company, hereinafter referred to in this chapter as "domestic company," may cause a corporation to be organized under the laws of this state or any other state of the United States of America to act as a holding company, hereinafter referred to in this chapter as "holding company," which may, or may not, be an insurance corporation, and the domestic company and holding company may adopt a plan for an exchange of stock or other securities in which stockholders of the domestic company exchange their stock for shares of stock or other securities issued by the holding company pursuant to the provisions of Section 27-28-2. Such plan of exchange may provide for a direct exchange of stock or other securities between the stockholders of the domestic company and the holding company or may include provision for the merger of a wholly owned subsidiary of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-28-1.htm - 1K - Match Info - Similar pages
27-3-1
Section 27-3-1 Certificate of authority - Requirement. (a) No person shall act as an insurer and no insurer shall transact insurance in this state unless so authorized by a subsisting certificate of authority issued to it by the commissioner, except as to such transactions as are expressly otherwise provided for in this title. (b) No insurer shall from offices or by personnel or facilities located in this state solicit insurance applications or otherwise transact insurance in another state or country unless it holds a subsisting certificate of authority issued to it by the commissioner authorizing it to transact the same kind or kinds of insurance in this state. (Acts 1971, No. 407, p. 707, §48.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-1.htm - 1020 bytes - Match Info - Similar pages
10A-20-6.07
Section 10A-20-6.07 Certificates of authority; contracts with public. Every corporation organized under this article shall procure from the Commissioner of Insurance a certificate of authority to do business, for which the corporation shall pay the sum of two hundred dollars ($200), and the certificates of authority shall be renewed thereafter on or before the first day of March of each year. The corporation may then enter into contracts with the public, subject to the restrictions contained in this article, for benefits under its health service plan. It shall be the duty of the corporation to enter into contracts with and issue certificates to those of the public who may desire to avail themselves of the benefits of the health service plan and who, under its rules and regulations, make application and are eligible therefor. The contracts may provide for more than one class of services or benefits, may designate the person or persons, or the class of persons, entitled thereto, may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-6.07.htm - 1K - Match Info - Similar pages
|