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27-27-2
Section 27-27-2 Applicability of chapter. This chapter shall apply only to domestic stock insurers
and domestic mutual insurers; except, that: (1) Sections 27-27-4 through 27-27-14, relative
to sale of securities or other financing of insurers or insurance operations, and subsection
(b) of Section 27-27-24 shall also apply as to foreign and alien insurers; and (2) This chapter
shall be applicable as to mutual aid associations as stated in Chapter 30 of this title and
as to fraternal benefit societies as stated in Chapters 34 and 35 of this title. (Acts 1971,
No. 407, p. 707, §495.)...
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27-30-34
Section 27-30-34 Provision of domestic life and disability insurance pursuant to Chapter 3.
Mutual aid associations organized and authorized under the provisions of this chapter are,
in addition to those authorizations and responsibilities stated in Sections 27-17-16, 27-30-1,
27-30-31, 27-30-33, and 27-36-7, entitled to provide insurance policies and contracts as are
authorized domestic life and disability insurers pursuant to Chapter 3 of Title 27, subject
to the limits on the size and types of risks to be insured as stated in Section 27-30-15 and
Section 27-30-6.1. (Acts 1989, No. 89-686, p. 1351.)...
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27-1-3
Section 27-1-3 Applicability of title - Generally. No provision of this title shall apply with
respect to: (1) Domestic mutual aid associations, as identified in Chapter 30, except as stated
in Chapter 30; or (2) Fraternal benefit societies, as identified in Chapter 34, except as
stated in Chapters 34 and 35. (Acts 1971, No. 407, p. 707, §11.)...
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10A-2-1.01
Section 10A-2-1.01 Short title and applicability. REPEALED IN THE 2019 REGULAR SESSION BY ACT
2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) This chapter
and Chapter 1, to the extent applicable to business corporations, shall be known and may be
cited as the "Alabama Business Corporation Law." (b) This chapter applies to a domestic
business corporation formed and existing under this title and to a foreign business corporation
that is transacting business in this state, regardless of whether the foreign corporation
is registered to transact business in this state. Without in any way limiting the generality
of any provision of this chapter or of any provision of Chapter 1, this chapter and the provisions
of Chapter 1 to the extent applicable to business corporations shall apply to banks, trust
companies, savings and loan associations, insurance companies, public utilities, and railroad
companies, except to the extent, if any, that any provision of this...
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27-4A-2
Section 27-4A-2 Definitions. For the purposes of this chapter only, the following terms, unless
the context clearly indicates otherwise, shall have the meanings: (1) ANNUITY CONSIDERATIONS.
All sums received as consideration for annuity contracts. (2) COMMISSIONER. The Commissioner
of Insurance of the State of Alabama. (3) DEPARTMENT. The Department of Insurance of the State
of Alabama. (4) DOMESTIC INSURER. Any insurer organized under the laws of the State of Alabama
which maintains its principal office and chief place of business in the State of Alabama.
(5) FOREIGN INSURER. Any insurer organized under the laws of any country or of any state of
the United States other than the State of Alabama and any insurer organized under the laws
of Alabama which maintains its principal office or chief place of business outside the State
of Alabama. (6) INSURER. Every insurer as defined in Section 27-1-2, and every other insurance
company or association charging a premium for contracts entered...
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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
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27-30-2
Section 27-30-2 Applicability of chapter - Generally. (a) This chapter applies only to domestic
mutual aid associations, as defined in Section 27-30-1. (b) No provision of this title shall
apply to mutual aid associations except as contained or referred to in this chapter. (Acts
1971, No. 407, p. 707, §557.)...
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27-30-33
Section 27-30-33 Applicability of other provisions. In addition to those contained or referred
to in this chapter, the following chapters and sections of this title shall apply to mutual
aid associations to the extent applicable and not in conflict with the express provisions
of this chapter and the reasonable implications of such express provisions: (1) Chapter 1;
(2) Chapter 2; (3) The following sections: a. Section 27-3-4; b. Section 27-3-5; c. Section
27-3-22; d. Section 27-3-23; e. Section 27-3-27; f. Section 27-3-29; and g. Section 27-4-2;
(4) The following section of Chapter 5: Section 27-5-12; (5) The following sections of Chapters
36 and 37: a. Section 27-37-1; b. Section 27-37-3; c. Section 27-37-2; d. Section 27-37-4;
e. Section 27-36-1, except subdivision (4) thereof; f. Section 27-36-6; and g. Sections 27-37-5
through 27-37-9; (6) Chapter 10; (7) Chapter 12; (8) Chapter 14, except as to the following
sections: Sections 27-14-8, 27-14-9, 27-14-29, and 27-14-32; (9) Chapter...
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27-27-15
Section 27-27-15 Domestic mutual insurers - Authorization to transact insurance. (a) When newly
organized, a domestic mutual insurer may be authorized to transact any one of the kinds of
insurance listed in the schedule contained in subsection (b) of this section. (b) When applying
for an original certificate of authority, the insurer must be otherwise qualified therefor
under this title and must have received and accepted bona fide applications as to substantial
insurable subjects for insurance coverage of a substantial character of the kind of insurance
proposed to be transacted, must have collected in cash the full premium therefor at a rate
not less than that usually charged by other insurers for comparable coverages, must have surplus
funds on hand and deposited as of the date such insurance coverages are to become effective
or, in lieu of such applications, premiums and surplus and may deposit surplus, all in accordance
with that part of the following schedule which applies to...
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27-27-17
Section 27-27-17 Domestic mutual insurers - Solicitation of qualifying applications for insurance.
(a) Upon receipt of the commissioner's approval of the bond or deposit as provided in Section
27-27-16 the directors and officers of the proposed domestic mutual insurer may commence solicitation
of such requisite applications for insurance policies as they may accept and may receive deposits
of premiums thereon. (b) All such applications shall be in writing signed by the applicant,
covering subjects of insurance resident, located or to be performed in this state. (c) All
such applications shall provide that: (1) Issuance of the policy is contingent upon the insurer
qualifying for and receiving a certificate of authority; (2) No insurance is in effect unless
and until the certificate of authority has been issued; and (3) The prepaid premium or deposit
and membership or policy fee, if any, shall be refunded in full to the applicant if organization
is not completed and the certificate of...
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