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22-21-362
Section 22-21-362 Incorporation of dental service plan corporation; management by board of
directors. (a) Any dental service plan corporation shall be incorporated under the provisions
of the laws of Alabama, except to the extent that the provisions thereof are in conflict with
the provisions of this article. Every charter or certificate of incorporation of such corporation
shall have endorsed thereon or affixed thereto the consent of the commissioner of insurance.
(b) The affairs of any dental service plan corporation shall be managed by a board of directors
composed of not fewer than five members, all of whom shall be residents of this state. (Acts
1982, No. 82-463, p. 741, §3.)...
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27-10-24
Section 27-10-24 Licensing of surplus line brokers. (a) Any person, while licensed as a resident
insurance producer in this state for the property lines of authority and who is deemed by
the commissioner to have had sufficient experience in the insurance business to be competent
for the purpose may be licensed as a surplus line broker for the types and kinds of insurance
that he or she as a resident producer is licensed to handle as follows: (1) Application to
the commissioner for the license shall be made on forms as designated and furnished by the
commissioner. (2) License fee in the amount stated in Section 27-4-2 shall be paid to the
commissioner. The license shall expire on December 31 next after its issue. (3) Prior to the
issuance of the license, the applicant shall file with the commissioner, and thereafter for
as long as any license remains in effect he or she shall keep in force and unimpaired, a bond
in favor of the State of Alabama in the penal sum of at least fifty...
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27-27-18
Section 27-27-18 Domestic mutual insurers - Deposit in trust of premiums or fees on qualifying
applications. (a) All sums collected by a domestic mutual corporation as premiums or fees
on qualifying applications for insurance therein shall be deposited in trust in a bank or
trust company in this state under a written trust agreement approved by the commissioner and
consistent with this section and with subdivision (c) (3) of Section 27-27-17. The corporation
shall file an executed copy of such trust agreement with the commissioner. (b) Upon issuance
to the corporation of a certificate of authority as an insurer for the kind of insurance for
which such applications were solicited, all funds so held in trust shall become the funds
of the insurer, and the insurer shall, thereafter in due course, issue and deliver its policies
for which premiums had been paid and accepted. The insurance provided by such policies shall
be effective as of the date of the certificate of authority or...
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27-30-21
Section 27-30-21 Accounts and records. (a) Every mutual aid association shall keep complete
and accurate accounts and records of its affairs and transactions, in accordance with the
usual and accepted methods and principles of insurance accounting and record keeping as applicable
to the kind of business transacted by the association. (b) All such accounts and records of
a mutual aid association shall be kept in the principal offices of the association located
in this state and be available for inspection thereat by the commissioner on any general business
day. (c) The commissioner may suspend or revoke the certificate of authority of any association
found by him to be in violation of this section. (Acts 1971, No. 407, p. 707, §577.)...
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27-34-36
Section 27-34-36 Annual statements - Requirements. (a) Report shall be filed and synopses of
annual statements shall be published in accordance with the provisions of this section. (b)
Every society transacting business in this state shall annually, on or before March 1, unless
for cause shown such time has been extended by the commissioner, file with the commissioner
a true statement of its financial condition, transactions, and affairs for the preceding calendar
year and pay a fee of $10.00 for filing same. The statement shall be in general form and context
as approved by the National Association of Insurance Commissioners for fraternal benefit societies
and as supplemented by additional information required by the commissioner. (c) A synopsis
of its annual statement providing an explanation of the facts concerning the condition of
the society thereby disclosed shall be printed and mailed to each benefit member of the society
not later than June 1 of each year, or, in lieu thereof,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-34-36.htm - 1K - Match Info - Similar pages
40-12-311
Section 40-12-311 Who must procure license. It shall be unlawful for any person, firm, corporation,
association, or copartnership, either foreign or domestic, to operate, maintain, open, or
establish any store in this state without first having obtained a license to do so from the
probate judge or license commissioner of the county in which the store is located, as hereinafter
provided. In instances where stores are located in more than one county, the licensee must
procure licenses in the county where his principal or main store is located for all stores
wheresoever located. (Acts 1935, No. 194, p. 256; Code 1940, T. 51, §620; Acts 1945, No.
430, p. 675.)...
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5-5A-26
Section 5-5A-26 Acceptance of drafts or bills of exchange arising from transactions involving
shipment of goods - Limitations. No bank shall accept, whether in a foreign or domestic transaction,
for any one person, company, firm or corporation, to an amount equal at any time in the aggregate
to more than 10 percent of its paid up and unimpaired capital and surplus, unless the bank
is secured either by attached documents or by some other actual security growing out of the
same transaction as the acceptance, and no bank shall accept such bills to an amount equal
at any time in the aggregate to more than one half of its paid up and unimpaired capital stock
and surplus. Banks which are members of the Federal Reserve System may accept such bills to
an amount not exceeding at any time in the aggregate 100 percent of their paid up and unimpaired
capital and surplus, but the aggregate of acceptances growing out of domestic transactions
shall in no event exceed 50 percent of such capital and...
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8-6-91
Section 8-6-91 Definitions. In this article, unless the context otherwise requires, the following
terms shall have the meanings ascribed to them by this section: (1) BANK. A bank, trust company,
national banking association, savings bank, or industrial bank. (2) BROKER. A person, including
a bank, lawfully engaged in the business of effecting transactions in securities for the account
of others and includes a broker lawfully engaged in buying and selling securities for his
own account. (3) ISSUER. A person who places, or authorizes the placing of, his name on a
security other than as a transfer agent to evidence that it represents a share, participation,
or other interest in his property or in an enterprise or to evidence his duty to perform an
obligation evidenced by the security or who becomes responsible for or in place of any such
person. (4) PERSON. Such term includes a corporation, government or governmental subdivision
or agency, business trust, estate, trust, partnership or...
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27-2-14
Section 27-2-14 Records, documents, and files - Custody; inspection; reproduction; destruction.
(a) The commissioner shall keep and preserve in permanent form accurate and complete records
of his proceedings, including also a concise statement of the result of such examination of
insurers by the commissioner, record and file all bonds and contracts and shall file such
records in the department. The commissioner is responsible for the custody and preservation
of all records, documents, and files of the department. (b) The records of the commissioner
and insurance filings in his office shall be open to public inspection, except as otherwise
provided by this title. (c) The commissioner may photograph, microphotograph, or reproduce
on film, whereby each page will be reproduced in exact conformity with the original, all financial
records, financial statements of domestic insurers, reports of business transacted in this
state by foreign insurers, reports of examination of domestic insurers,...
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27-7-23
Section 27-7-23 Temporary license - Generally. (a) The commissioner may, in his or her discretion,
issue a temporary producer license without requiring an examination or prelicensing course
if the commissioner deems the temporary license is necessary for the servicing of an insurance
business in any of the following cases: (1) To the surviving spouse or court-appointed personal
representative of a licensed producer who dies or becomes mentally or physically disabled
to allow adequate time for the sale of the insurance business owned by the producer or for
the recovery or return of the producer to the business or to provide for the training and
licensing of new personnel to operate the producer's business. (2) To a member or employee
of a business entity which is licensed as a producer, upon the death or disability of the
individual designated in the business entity application or the license. (3) To the designee
of a licensed producer entering active service in the Armed Forces of the...
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