27-22-61
Section 27-22-61 Notice to insured of requirements for release of insurance proceeds. (a) If
a claim under an insurance policy for damage to residential real property is paid to the insured
and a lender, and the lender holds all or part of the proceeds from the insurance claim payment
pending completion of all or part of the repairs to the property, the lender shall notify
the insured of each requirement with which the insured must comply for the lender to release
the insurance proceeds. (b) The notice required under this section must be provided no later
than 14 days after the date the lender receives payment of the insurance proceeds. (Act 2019-460,
§2.)...
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22-27-61
Section 22-27-61 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2019 REGULAR SESSION,
EFFECTIVE SEPTEMBER 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) If a claim under
an insurance policy for damage to residential real property is paid to the insured and a lender,
and the lender holds all or part of the proceeds from the insurance claim payment pending
completion of all or part of the repairs to the property, the lender shall notify the insured
of each requirement with which the insured must comply for the lender to release the insurance
proceeds. (b) The notice required under this section must be provided no later than 14 days
after the date the lender receives payment of the insurance proceeds. (Act 2019-460, §2.)...

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39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used
in this section the following words shall have the meanings ascribed to them as follows: (1)
CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited
liability company, cooperative, or other legal entity licensed by the Alabama State Licensing
Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a.
organized and existing under the laws of the State of Alabama, nor b. maintains its principal
place of business in the State of Alabama. A nonresident contractor which has maintained a
permanent branch office within the State of Alabama for at least five continuous years shall
not thereafter be deemed to be a nonresident contractor so long as the contractor continues
to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor
which has been retained by the awarding authority conditioned on...
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45-36-252.06
Section 45-36-252.06 Bonds of the authority; obligations. (a) In addition to all other powers
now or hereafter granted by law, the authority shall have the following powers, together with
all powers incidental thereto or necessary to the discharge thereof in corporate form: (1)
To sell and issue bonds of the authority in order to provide funds for any corporate function,
use, or purpose, any such bonds to be payable solely out of one or more of the following:
a. Any or all proceeds or receipts from the privilege, license, or excise tax levied on the
sale, distribution, storage, use, or consumption of tobacco and certain tobacco products in
Jackson County by Section 45-36-247. b. Any or all proceeds from any tax received by the Jackson
County Commission which are required by law to be deposited to the credit of the Jackson County
Water Authority. c. The revenues derived from any water, sewer, or garbage system or facility
of the authority. (2) To pledge for payment of any bonds issued...
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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...
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27-22-63
Section 27-22-63 Failure to provide notice or to release insurance proceeds. A lender who fails
to provide notice as required by Section 27-22-61 or Section 27-22-62 or to release insurance
proceeds as required by Section 27-22-62 shall pay to the insured interest at the rate of
10 percent per year on the proceeds held by the lender. (Act 2019-460, §4.)...
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27-22-64
Section 27-22-64 Accrual of interest. (a) If a lender fails to provide notice as required by
Section 27-22-61 or Section 27-22-62, interest begins to accrue on the date the lender received
the insurance proceeds. (b) If a lender fails to release insurance proceeds as required by
Section 27-22-62, interest begins to accrue on the date the lender receives sufficient evidence
of the insured's compliance with the requirements specified by the lender under Section 27-22-61
or Section 27-22-62 for release of the proceeds. (c) Interest stops accruing on the date the
lender complies with Section 27-22-61 or Section 27-22-62, as applicable. (Act 2019-460, §5.)...

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22-27-63
Section 22-27-63 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2019 REGULAR SESSION,
EFFECTIVE SEPTEMBER 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. A lender who fails
to provide notice as required by Section 27-22-61 or Section 27-22-62 or to release insurance
proceeds as required by Section 27-22-62 shall pay to the insured interest at the rate of
10 percent per year on the proceeds held by the lender. (Act 2019-460, §4.)...
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22-27-64
Section 22-27-64 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2019 REGULAR SESSION,
EFFECTIVE SEPTEMBER 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) If a lender fails
to provide notice as required by Section 27-22-61 or Section 27-22-62, interest begins to
accrue on the date the lender received the insurance proceeds. (b) If a lender fails to release
insurance proceeds as required by Section 27-22-62, interest begins to accrue on the date
the lender receives sufficient evidence of the insured's compliance with the requirements
specified by the lender under Section 27-22-61 or Section 27-22-62 for release of the proceeds.
(c) Interest stops accruing on the date the lender complies with Section 27-22-61 or Section
27-22-62, as applicable. (Act 2019-460, §5.)...
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35-8A-313
Section 35-8A-313 Insurance. (a) Commencing not later than the time of the first conveyance
of a unit to a person other than a declarant, the association shall maintain, to the extent
reasonably available: (1) Property insurance on the common elements insuring against all risks
of direct physical loss commonly insured against or, in the case of a conversion building,
against fire and extended coverage perils. The total amount of insurance after application
of any deductibles shall be not less than the greater of 80 percent of the actual cash value
of the insured property at the time the insurance is purchased or such greater percentage
of such actual cash value as may be necessary to prevent the applicability of any co-insurance
provision and at each renewal date, exclusive of land, excavations, foundations, and other
items normally excluded from property policies; and (2) Liability insurance, including medical
payments insurance, in an amount determined by the board but not less than...
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