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40-2A-7
Section 40-2A-7 Uniform revenue procedures. (a) Maintenance of records; audit and subpoena
authority; authority to issue regulations. (1) In addition to all other recordkeeping requirements
otherwise set out in this title, taxpayers shall keep and maintain an accurate and complete
set of records, books, and other information sufficient to allow the department to determine
the correct amount of value or correct amount of any tax, license, permit, or fee administered
by the department, or other records or information as may be necessary for the proper administration
of any matters under the jurisdiction of the department. The books, records, and other information
shall be open and available for inspection by the department upon request at a reasonable
time and location. (2) The department may examine and audit the records, books, or other relevant
information maintained by any taxpayer or other person for the purpose of computing and determining
the correct amount of value or correct...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-2A-7.htm - 28K - Match Info - Similar pages
40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a) Purchasers,
holders of security interests, mechanic's lienors, and judgment lien creditors. The lien imposed
by Section 40-29-20 shall not be valid as against any purchaser, holder of a security interest,
mechanic's lienor, or judgment lien creditor until notice thereof which meets the requirements
of subsection (f) has been filed by the Commissioner of Revenue or his delegate, and shall
not be perfected as against any purchaser, holder of a security interest, mechanic's lienor,
or judgment lien creditor until the date such notice is filed. (b) Protection for certain
interest even though notice filed. Even though notice of a lien imposed by Section 40-29-20
has been filed, such lien shall not be valid: (1) SECURITIES. With respect to a security (as
defined in subsection (g)(4)): a. As against a purchaser of such security who at the time
of purchase did not have actual notice or knowledge of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-29-22.htm - 17K - Match Info - Similar pages
27-24-4
Section 27-24-4 Sole surety - Cosureties on bond of State Treasurer. No such corporation or
insurer shall, however, be accepted as sole surety on the bond of the State Treasurer but
may become and be accepted as a cosurety with other persons or with other authorized surety
insurers upon such bond, and in such event, its property or credit shall not be estimated
to exceed $100,000.00. (Code 1940, T. 41, §102; Acts 1971, No. 407, p. 707, §489.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-24-4.htm - 757 bytes - Match Info - Similar pages
27-32-32
Section 27-32-32 Assessments - Commissioner's report. Within three years from the date an order
of rehabilitation or liquidation of a domestic mutual insurer or a domestic reciprocal insurer
was filed in the office of the clerk of the court by which such order was made, the commissioner
may make his report to the court setting forth: (1) The reasonable value of the assets of
the insurer; (2) The insurer's probable liabilities; and (3) The probable necessary assessment,
if any, to pay all claims and expenses in full, including expenses of administration. (Acts
1971, No. 407, p. 707, §651.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-32.htm - 932 bytes - Match Info - Similar pages
27-24-6
Section 27-24-6 Venue of actions on bonds or undertakings. Any official bond or undertaking
executed by a surety insurer may have an action maintained on it in the county of the residence
of the principal or in which he resided at the time of the execution of the bond or undertaking,
but actions by the state shall be brought in Montgomery County. (Code 1940, T. 41, §104;
Acts 1971, No. 407, p. 707, §491.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-24-6.htm - 719 bytes - Match Info - Similar pages
27-24-8
Section 27-24-8 Rights and remedies of insurers. Such an insurer as surety on any official
bond, undertaking, or obligation is entitled to all the rights and remedies of other sureties
on such instruments; and any insurer becoming surety on any bond or undertaking, as authorized
by this chapter, shall have the same right to be relieved from further liability thereon or
to require the principal to give new or additional bonds or undertakings as is conferred by
law upon the other sureties on like bonds or undertakings. (Code 1940, T. 41, §107; Acts
1971, No. 407, p. 707, §493.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-24-8.htm - 893 bytes - Match Info - Similar pages
27-31-25
Section 27-31-25 Nonassessable policies. (a) If a reciprocal insurer has a surplus of assets
over all liabilities at least equal to the minimum capital stock required of a domestic stock
insurer authorized to transact like kinds of insurance, upon application of the attorney and
as approved by the subscribers' advisory committee, the commissioner shall issue his certificate
authorizing the insurer to extinguish the contingent liability of subscribers under its policies
then in force in this state and to omit provisions imposing contingent liability in all policies
delivered, or issued for delivery, in this state for so long as all such surplus remains unimpaired.
(b) Upon impairment of such surplus, the commissioner shall forthwith revoke the certificate.
Such revocation shall not render subject to contingent liability any policy then in force
and for the remainder of the period for which the premium has theretofore been paid; but after
such revocation, no policy shall be issued or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31-25.htm - 2K - Match Info - Similar pages
27-3-4
Section 27-3-4 Authority to transact insurance - Eligibility. To qualify for and hold authority
to transact insurance in this state, an insurer must be otherwise in compliance with this
title and with its charter powers and must be an incorporated stock insurer or an incorporated
mutual insurer or a reciprocal insurer, all of the same general type as may be formed as a
domestic insurer under this title; except that: (1) No foreign insurer shall be authorized
to transact insurance in this state which does not maintain reserves as required by Chapter
36 of this title applicable to the kind, or kinds, of insurance transacted by such insurer,
wherever transacted in the United States, or which transacts insurance in the United States
on the assessment premium plan, stipulated premium plan, cooperative plan, or any similar
plan; (2) Any foreign insurer which has transacted insurance as an authorized insurer in its
state or country of domicile for less than five years shall not be authorized...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-4.htm - 3K - Match Info - Similar pages
5-26-14
Section 5-26-14 Surety bond required. (1) Coverage, form and regulations. Each mortgage loan
originator shall be covered by a surety bond in accordance with this section. In the event
that the mortgage loan originator is an employee or exclusive agent of a person subject to
the Alabama Consumer Credit Act or Mortgage Brokers Licensing Act, the surety bond of such
person subject to the Alabama Consumer Credit Act or Mortgage Brokers Licensing Act can be
used in lieu of the mortgage loan originator's surety bond requirement. (a) The surety bond
shall provide coverage for each mortgage loan originator in an amount as prescribed in subsection
(2). (b) The surety bond shall be in a form as prescribed by the supervisor. (c) The supervisor
may promulgate rules or regulations with respect to the requirements for such surety bonds
as are necessary to accomplish the purposes of this chapter. (2) Penal sum of surety bond.
The penal sum of the surety bond shall be maintained in an amount that...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-26-14.htm - 1K - Match Info - Similar pages
27-27-41
Section 27-27-41 Deficiencies in stock insurer's capital or assets of mutual insurers - Generally.
(a) If a stock insurer's capital, as represented by the aggregated par value of its outstanding
capital stock, becomes impaired or the assets of a mutual insurer are less than its liabilities
and the minimum amount of surplus required to be maintained by it under Sections 27-27-15
or 27-27-20 for authority to transact the kinds of insurance being transacted, the commissioner
shall, at once, determine the amount of deficiency and serve notice upon the insurer to make
good the deficiency within 60 days after service of such notice. (b) The deficiency may be
made good in cash or in assets eligible for the investment of the insurer's funds, or, if
a stock insurer, by reduction of the insurer's capital to an amount not below the minimum
required for the kinds of insurance thereafter to be transacted or, if a mutual insurer, by
amendment of its certificate of authority to cover only such kind...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-41.htm - 2K - Match Info - Similar pages
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