16-44B-1
Section 16-44B-1 Compact. ARTICLE I PURPOSE It is the purpose of this compact to remove barriers
to education success imposed on children of military families because of frequent moves and
deployment of their parents by: A. Facilitating the timely enrollment of children of military
families and ensuring that they are not placed at a disadvantage due to difficulty in the
transfer of education records from the previous school district(s) or variations in entrance/age
requirements. B. Facilitating the student placement process through which children of military
families are not disadvantaged by variations in attendance requirements, scheduling, sequencing,
grading, course content or assessment. C. Facilitating the qualification and eligibility for
enrollment, educational programs, and participation in extracurricular academic, athletic,
and social activities. D. Facilitating the on-time graduation of children of military families.
E. Providing for the promulgation and enforcement of...
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40-2B-2
Section 40-2B-2 Alabama Tax Tribunal. (a) Statement of Purpose. To increase public confidence
in the fairness of the state tax system, the state shall provide an independent agency with
tax expertise to resolve disputes between the Department of Revenue and taxpayers, prior to
requiring the payment of the amounts in issue or the posting of a bond, but after the taxpayer
has had a full opportunity to attempt settlement with the Department of Revenue based, among
other things, on the hazards of litigation. By establishing an independent Alabama Tax Tribunal
within the executive branch of government, this chapter provides taxpayers with a means of
resolving controversies that insures both the appearance and the reality of due process and
fundamental fairness. The tax tribunal shall provide hearings in all tax matters, except those
specified by statute, and render decisions and orders relating thereto. A tax tribunal hearing
shall be commenced by the filing of a notice of appeal protesting...
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27-27-35
Section 27-27-35 Nonassessable policies in mutual insurers - Revocation of domestic insurers
authority to issue. The commissioner shall revoke the authority of a domestic mutual insurer
to issue policies without contingent liability if at any time the insurer's assets are less
than the sum of its liabilities and the surplus required for such authority or if the insurer,
by resolution of its board of directors approved by a majority of its members, requests that
the authority be revoked. During the absence of such authority, the insurer shall not issue
any policy without providing therein for the contingent liability of the policyholder nor
renew any policy which is renewable at the option of the insurer without endorsing the same
to provide for such contingent liability. (Acts 1971, No. 407, p. 707, §531.)...
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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.)...
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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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27-27-19
Section 27-27-19 Domestic mutual insurers - Failure to complete organization. If the proposed
domestic mutual insurer fails to complete its organization and to secure its original certificate
of authority within one year from, and after, date of its certificate of incorporation, the
corporation shall transact no further business, and the commissioner shall return, or cause
to be returned, to the persons entitled thereto all advance deposits or payments of premiums
held in trust under Section 27-27-18. (Acts 1971, No. 407, p. 707, §515.)...
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27-27-34
Section 27-27-34 Nonassessable policies in mutual insurers - Generally. (a) While possessing
surplus funds in amount not less than the paid-in capital stock required of a domestic stock
insurer transacting like kinds of insurance, a domestic mutual insurer may, upon receipt of
the commissioner's order so authorizing, extinguish the contingent liability of its members
as to all its policies in force and may omit provisions imposing contingent liability in all
its policies currently issued. (b) A foreign or alien mutual insurer may issue nonassessable
policies to its members in this state pursuant to its articles of incorporation and the laws
of its domicile. (Acts 1971, No. 407, p. 707, §530.)...
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27-33-5
Section 27-33-5 Trust agreement - Requirement; approval by commissioner. (a) The deposit referred
to in Section 27-33-2 shall be made under a written trust agreement between the insurer and
the trustee, consistent with the provisions of this chapter, and shall be authenticated in
such form and manner as the commissioner may designate or approve. (b) The agreement shall
not be effective until filed with and approved in writing by the commissioner. The commissioner
shall not approve any trust agreement found by him not to be in compliance with the law or
the terms of which do not in fact provide reasonably adequate protection for the insurer's
policyholders or policyholders and creditors in the United States. (Acts 1971, No. 407, p.
707, §660.)...
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27-27-32
Section 27-27-32 Contingent liability of members of domestic mutual insurers - Levy of assessments.
(a) If at any time the assets of a domestic mutual insurer are less than its liabilities and
the minimum amount of surplus required to be maintained by it under this title for authority
to transact the kinds of insurance being transacted and the deficiency is not cured from other
sources, its directors shall levy an assessment only upon its members who held policies providing
for contingent liability at any time within the 12 months preceding the date notice of such
assessment was mailed to them, and such members shall be liable to the insurer for the amount
so assessed. (b) The assessment shall be for such an amount as is required to cure such deficiency
and to provide a reasonable amount of working funds above such minimum amount of surplus,
but such working funds so provided shall not exceed five percent of the insurer's liabilities
as of the date as of which the amount of such...
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27-27-39
Section 27-27-39 Dividends - Liability for illegal dividends by domestic insurers. (a) Any
director of a domestic stock or mutual insurer who knowingly votes for, or concurs in, declaration
or payment of a dividend to stockholders or members except as authorized in Sections 27-27-37
or 27-27-38 shall, upon conviction thereof, be guilty of a misdemeanor and shall be jointly
and severally liable, together with other such directors likewise voting for or concurring,
for any loss thereby sustained by the insurer. (b) Any stockholder receiving such an illegal
dividend shall be liable in the amount thereof to the insurer. (c) The commissioner may revoke
or suspend the certificate of authority of an insurer which has declared or paid such an illegal
dividend. (Acts 1971, No. 407, p. 707, §535.)...
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