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27-36A-16
Section 27-36A-16 Requirements of a principle-based valuation. (a) A company must establish
reserves using a principle-based valuation that meets the following conditions for policies
or contracts as specified in the valuation manual: (1) Quantify the benefits and guarantees,
and the funding, associated with the contracts and their risks at a level of conservatism
that reflects conditions that include unfavorable events that have a reasonable probability
of occurring during the lifetime of the contracts. For polices or contracts with significant
tail risk, reflects conditions appropriately adverse to quantify the tail risk. (2) Incorporate
assumptions, risk analysis methods and financial models, and management techniques that are
consistent with, but not necessarily identical to, those utilized within the company's overall
risk assessment process, while recognizing potential differences in financial reporting structures
and any prescribed assumptions or methods. (3) Incorporate...
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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...
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5-25-5
Section 5-25-5 Application for license. (a) An application for a license under this
chapter shall be made in writing, under oath, and in the form as the department may prescribe.
(b) The application shall include all of the following: (1) The legal name, business address,
and telephone number of the applicant and, if the applicant is a partnership, association,
corporation, or other group of individuals, however organized, the legal name, residence,
and business address of every principal, together with the resume of the applicant and of
every principal of the applicant. (2) The name under which the applicant will conduct business
in the state. (3) The complete address of the applicant's initial registered office and any
other locations at which the applicant will engage in any business activity covered by this
chapter. (4) Any other data, financial statements, and pertinent information as the department
may require with respect to the applicant, its directors, principals, trustees,...
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11-104-2
Section 11-104-2 Definitions. As used in this chapter, the following terms shall have
the following meanings: (1) DEPENDENTS. The spouse, children, or other dependents of the retired
employee, as defined by and covered under the documents governing the governmental entities'
benefit plans that provide post-employment benefits. (2) EMPLOYEE. Any person who is an employee
of any governmental entity located in the state who may become eligible for post-employment
benefits from the governmental entity. (3) EMPLOYER. Any governmental entity that sponsors,
in whole or in part, post-employment benefits. (4) FISCAL YEAR. The annual period at the end
of which a governmental entity determines its financial condition. (5) GASB. The Governmental
Accounting Standards Board. (6) GOVERNMENTAL ENTITY. Any political subdivision of the state,
any department, agency, board, commission, or authority of any such political subdivision,
or any public corporation, authority, agency, instrumentality, board,...
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11-91A-7
Section 11-91A-7 Jurisdiction of board; funding; powers of board. The board shall have
full, complete, and exclusive jurisdiction over the program and shall allocate funds from
its treasury for the fulfillment and accomplishment of its duties and responsibilities in
a manner as may be necessary and appropriate to carry out the purposes of this chapter. The
board shall have the general powers and authority granted under the laws of this state for
health insurers, and in addition thereto, the specific authority to do all of the following:
(a) Subject to compliance with Section 11-91A-8 where applicable, execute a contract
or contracts to provide for the administration of the program in accordance with this chapter.
The contract or contracts may be executed with one or more agencies or corporations licensed
to transact or administer group health care business in this state with similar plans of the
state for the joint performance of common administrative functions. (b) Establish, and...
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16-33B-4
Section 16-33B-4 Basic powers and duties of the Alabama Commission on Higher Education
for the Alabama Guaranteed Student Loan Program. (a) Basic powers. The Alabama Commission
on Higher Education (ACHE) is authorized to administer the Alabama Guaranteed Student Loan
Program in accordance with the Federal Student Loan Law, and empowered to promulgate such
rules, regulations, policies, and procedures as may be reasonable and proper in order to carry
out the provisions and purposes of this chapter. Without limiting the generality of the foregoing,
the ACHE is authorized and empowered: (1) To establish regulations deemed necessary to comply
with federal regulations and legislation relative to guaranteed student loans and the Federal
Student Loan Law. (2) To establish eligibility criteria for participating postsecondary educational
institutions. (3) To establish reasonable eligibility criteria for the initial and continuing
participation of approved lenders in the student loan program. (4)...
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17-6-81
Section 17-6-81 Fair Ballot Commission; ballot statements. (a)(1) There is created the
Fair Ballot Commission. The purpose of the commission is to provide to the public a fair and
accurate explanation of what a vote for and what a vote against a statewide ballot measure
represents. (2) The commission shall consist of the following 18 members: The Governor, the
Lieutenant Governor, the Commissioner of Agriculture and Industries, the Speaker of the House
of Representatives, and the Secretary of State, or their designees, shall each serve as a
member on the commission and shall each appoint to the commission one member who is an attorney
licensed in the state and one member who is a private citizen of the state who is not an attorney.
The Alabama State University School of Public Policy, the Samford University School of Public
Policy, and the Miles College School of Law shall each appoint a member to the commission.
Other than the Governor, the Lieutenant Governor, the Commissioner of...
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32-6-64
Section 32-6-64 License plate design; numbering, sponsoring, and manufacturing of license
plates; release of personal information. (a)(1) The design of license plates, including all
emblems, slogans, symbols, or characters appearing on the plates, shall be by rule as promulgated
by the Commissioner of Revenue, and as otherwise specified by law. The face of the license
plate to be displayed shall be fully treated with a reflective material which will increase
the nighttime visibility and legibility of the plate. (2) Characters on the license plate
which designate the county of issuance shall be numeric, and all numerals on the license plates
shall be no smaller than two and three-fourths inches in height. The following numbering scheme
shall be used: a. Jefferson County, 1; Mobile County, 2; Montgomery County, 3. b. All other
counties shall be ranked alphabetically and assigned consecutive numbers beginning with 4
and concluding with 67. c. The Department of Revenue shall be responsible...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-6-64.htm - 9K - Match Info - Similar pages
32-7A-11
Section 32-7A-11 Online insurance verification system - Notification upon inability
to verify existing insurance; proof of coverage; penalties. (a)(1) When the department is
unable to verify that liability insurance coverage exists for a motor vehicle registered or
required to be registered in this state, the department shall send the registrant notice via
U.S. mail at the last known address as reflected on the department's motor vehicle registration
records. The notice shall require that the registrant, within 30 calendar days of the date
of the notice, provide evidence of continuous liability insurance coverage for the vehicle
for the period specified by the department. The registration will be suspended unless either:
a. The registrant responds within the required time frame and the response establishes that
the registrant has not had a lapse in liability insurance coverage. The department shall then
indicate in its records that the insured is in compliance with this chapter. b. The...
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45-37-123.22
Section 45-37-123.22 Powers and duties of the pension board. (a) The pension board shall
be responsible for the general administration and proper operation of the plan, and shall
administer the plan for the exclusive benefit of the members and their beneficiaries, subject
to the specific terms of the plan. The pension board shall administer the plan in accordance
with its terms and shall have the power and discretion to construe the terms of the plan and
the act and to determine all questions arising in connection with the administration, interpretation,
and application of the plan. Any such determination by the pension board shall be conclusive
and binding upon all persons. The pension board may establish procedures, correct any defect,
supply any information, or reconcile any inconsistency in such manner and to such extent as
shall be deemed necessary or advisable to carry out the purpose of the plan; provided, however,
that any procedure, discretionary act, interpretation, or...
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