|
27-21-4
Section 27-21-4 Exemption from premium tax; deduction of losses therefrom. The premiums collected
under the provisions of the health care plan are hereby exempt from the payment of premium
tax under Chapter 4 of this title. Any losses suffered as a direct result of operation under
the plan by those organizations electing to join and operate under the health care plan may
be deducted from the premium tax submitted under the above-mentioned Chapter 4 which would
normally be paid on individual accident and health insurance premiums collected, but total
loss deduction shall not exceed 50 percent of such premium tax normally payable on premiums
from individual accident and health insurance. (Acts 1971, No. 501, p. 1218.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-21-4.htm - 1K - 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
27-19-103
Section 27-19-103 Definitions. Unless the context requires otherwise, the definitions in this
section apply throughout this article. (1) APPLICANT. In the case of: a. An individual long-term
care insurance policy, the person who seeks to contract for benefits. b. A group long-term
care insurance policy, the proposed certificate holder. (2) CERTIFICATE. Any certificate issued
under a group long-term care insurance policy, which policy has been delivered or issued for
delivery in this state. (3) COMMISSIONER. The Alabama Commissioner of Insurance. (4) GROUP
LONG-TERM CARE INSURANCE. A long-term care insurance policy which is delivered or issued for
delivery in this state and issued to any of the following: a. One or more employers or labor
organizations, or to a trust or to the trustees of a fund established by one or more employers
or labor organizations, or a combination thereof, for employees or former employees or a combination
thereof, or for members or former members or a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-103.htm - 9K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-8.htm - 14K - Match Info - Similar pages
40-18-15
Section 40-18-15 Deductions for individuals generally. (a) No deduction shall be allowed for
any losses, expenses, or interest deferred or disallowed pursuant to 26 U.S.C. § 267 or for
any cost required to be capitalized in accordance with 26 U.S.C. § 263A; otherwise, there
shall be allowed as deductions: (1) All ordinary and necessary expenses paid or incurred during
the taxable year in carrying on any trade or business, as determined in accordance with 26
U.S.C. § 162. (2) Interest paid or accrued within the taxable year on indebtedness, limited
to the amount allowable as an interest deduction for federal income tax purposes in the corresponding
tax year or period pursuant to the provisions of 26 U.S.C. §§ 163, 264, and 265. (3) The
following taxes paid or accrued within the taxable year: a. Income taxes, Federal Insurance
Contribution Act taxes, taxes on self-employment income and estate and gift taxes imposed
by authority of the United States or any possession of the United...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-15.htm - 18K - Match Info - Similar pages
27-34-37
Section 27-34-37 Annual statements - Valuation of certificates; reserves. (a) As a part of
the annual statement required under Section 27-34-36, each society shall, on or before March
1, file with the commissioner a valuation of its certificates in force on December 31 last
preceding; provided, however, that the commissioner may, in his discretion for cause shown,
extend the time for filing such valuation for not more than two calendar months. Such report
of valuation shall show, as reserve liabilities, the difference between the present midyear
value of the promised benefits provided in the certificates of such society in force and the
present midyear value of the future net premiums as the same are in practice actually collected,
not including therein any value for the right to make extra assessments and not including
any amount by which the present midyear value of future net premiums exceeds the present midyear
value of promised benefits on individual certificates. At the option of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-34-37.htm - 7K - Match Info - Similar pages
27-44-8
Section 27-44-8 Powers and duties of association. (a) If a member insurer is an impaired insurer,
the association may, in its discretion and subject to any conditions imposed by the association
that do not impair the contractual obligations of the impaired insurer, and that are approved
by the commissioner: (1) Guarantee or reinsure, or cause to be guaranteed, assumed, or reinsured,
any or all of the covered policies of the impaired insurers. (2) Provide such moneys, pledges,
notes, guarantees, or other means as are proper to effectuate subdivision (1), and assure
payment of the contractual obligations of the impaired insurer pending action under subdivision
(1). (b) If a member insurer is an insolvent insurer, the association shall, in its discretion
and subject to the approval of the commissioner, do either of the following: (1)a. Guarantee,
assume, or reinsure, or cause to be guaranteed, assumed, or reinsured, the covered policies
of the insolvent insurer. b. Assure payment of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-8.htm - 24K - Match Info - Similar pages
11-26-5
Section 11-26-5 Health and accident group to file bylaws and schedules with Insurance Commissioner;
group exempt from regulation and tax. Each health and accident self-insurance group established
under the provisions of this chapter shall file with the State Insurance Commissioner, a copy
of its bylaws and schedule of benefits and charges. Such group, however, shall be exempt from
regulation by the Department of Insurance of the State of Alabama and all premiums or charges
collected shall be exempt from insurance premium tax. (Acts 1981, No. 81-265, p. 348, §5.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-26-5.htm - 874 bytes - Match Info - Similar pages
25-4-152
Section 25-4-152 Deduction of child support obligations; procedures; reimbursement for administrative
costs; time of implementation; deduction of federal income tax. (a) (1) An individual filing
a claim for unemployment compensation shall, at the time of filing such claim, disclose whether
or not the individual owes child support obligations as defined under subdivision (7). If
any such individual discloses that he or she owes child support obligations, and is determined
to be eligible for unemployment compensation, the secretary shall notify the state or local
child support enforcement agency enforcing such obligation that the individual has been determined
to be eligible for unemployment compensation. (2) The secretary shall deduct and withhold
from any unemployment compensation payable to an individual who owes child support obligations
as defined under subdivision (7). a. The amount specified by the individual to the secretary
to be deducted and withheld under this subdivision, if...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-4-152.htm - 5K - Match Info - Similar pages
16-25A-8
Section 16-25A-8 Funding of health insurance plan; participation; Public Education Employees'
Health Insurance Fund. (a) The Public Education Employees' Health Insurance Board is hereby
authorized to provide under the contract or contracts entered into under the provisions of
this article an insurance benefit plan for each covered employee and, under certain conditions,
retired employees; the cost of such plan may be funded in part or in full through monthly
premiums per active employee from the same source of funds as those used for the payment of
salaries of active members and in part from other funds. (b) On or before January 1 next preceding
each regular meeting of the Legislature, the board shall certify to the Governor and to the
Legislature the amount or amounts necessary to fund coverage for benefits authorized by this
article for the following fiscal year for employees and for retired employees as a monthly
premium per active member per month. The Legislature shall set the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25A-8.htm - 6K - Match Info - Similar pages
|