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8-7A-19
Section 8-7A-19 Civil penalties. (a) The commission may assess a civil penalty against a person
that violates this chapter or a rule adopted or an order issued under this chapter in an amount
not to exceed one thousand dollars ($1,000) per day for each day the violation is outstanding.
(b) In addition to the assessment in subsection (a), the commission may assess a charge for
the actual cost of any investigation resulting from any violation of this chapter, a violation
of any rule or order issued under this chapter, or the cost of any examination made by the
commission pursuant to this chapter, to the person or persons subject to such investigation
or examination. All assessments collected under this subsection shall be deposited in the
Alabama Securities Commission Fund in the State Treasury to be drawn upon by the commission
for its use in administration of this chapter. (Act 2017-389, §2.)...
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27-6-14
Section 27-6-14 Curing of deficiency in market value of deposit. (a) If for any reason the
market value of assets and securities of an insurer held on deposit in this state under this
title falls below the amount so required, the insurer shall promptly deposit other or additional
assets or securities eligible for deposit sufficient to cure such deficiency. If the insurer
has failed to cure the deficiency within 30 days after receipt of notice thereof by registered
or certified mail from the commissioner, the commissioner shall revoke the insurer's certificate
of authority. (b) If for any reason the market value of assets and securities of a domestic
life insurer, representing deposit of the reserves of certain of its outstanding registered
policies and registered annuity contracts under laws heretofore in force, falls below the
amount so required and as determined from the insurer's most recent annual statement or most
recent examination of the insurer by the commissioner, the insurer...
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5-18A-17
Section 5-18A-17 Consent orders; civil or criminal penalties; extraordinary circumstances.
(a) The supervisor may enter into consent orders at any time with any person to resolve any
matter arising under this chapter. A consent order shall be signed by the person to whom it
is issued, or a duly authorized representative, and shall indicate agreement to the terms
contained therein. A consent order need not constitute an admission by any person that any
provision of this chapter, or any rule, regulation, or order promulgated or issued pursuant
to this chapter has been violated, nor need it constitute a finding by the supervisor that
such person has violated any provision of this chapter or any rule, regulation, or order promulgated
or issued hereunder. (b) Notwithstanding the issuance of a consent order, the supervisor may
seek civil or criminal penalties or compromise civil penalties concerning matters encompassed
by the consent order. (c) In cases involving extraordinary circumstances...
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2-14-15
Section 2-14-15 Penalties for violations of provisions of chapter, rules or regulations, etc.
Any person who shall perform any of the acts declared by this chapter to be unlawful or who
fails to perform any duty imposed by the provisions of this chapter or who violates any quarantine
order issued under the provisions of this chapter or who violates any rule or regulation duly
promulgated under the provisions of this chapter or who fails and refuses to register colonies
of bees or pay the registration fee required by this chapter shall be guilty of a misdemeanor
and, upon conviction, shall be fined not less than $25.00 nor more than $500.00 and, within
the discretion of the court, may be imprisoned for a period not to exceed six months. (Acts
1965, No. 794, p. 1488, §14.)...
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27-29A-8
Section 27-29A-8 Confidentiality. (a) Documents, materials, or other information, including
the ORSA Summary Report, in the possession of or control of the Department of Insurance that
are obtained by, created by, or disclosed to the commissioner or any other person under this
chapter, are recognized by this state as being proprietary and to contain trade secrets. All
such documents, materials, or other information shall be confidential by law and privileged,
shall not be subject to any open records, freedom of information, sunshine, or other public
record disclosure laws, shall not be subject to subpoena, and shall not be subject to discovery
or admissible in evidence in any private civil action. However, the commissioner is authorized
to use the documents, materials, or other information in the furtherance of any regulatory
or legal action brought as a part of the commissioner's official duties. The commissioner
shall not otherwise make the documents, materials, or other information...
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27-32-27
Section 27-32-27 Voidable transfers and liens. (a) Any transfer of, or lien upon, the property
of an insurer which is made or created within four months prior to the granting of an order
to show cause under this chapter with the intent of giving to any creditor a preference or
of enabling him to obtain a greater percentage of his debt than any other creditor of the
same class and which is accepted by such creditor, having reasonable cause to believe that
such preference will occur, shall be voidable. (b) Every director, officer, employee, stockholder,
member, subscriber, and any other person acting on behalf of such insurer who shall be concerned
in any such act or deed and every person receiving thereby any property of such insurer of
the benefit thereof shall be personally liable therefor and shall be bound to account to the
commissioner. (c) The commissioner, as receiver in any proceeding under this chapter, may
avoid any transfer of, or lien upon, the property of an insurer which...
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8-7A-24
Section 8-7A-24 Party aggrieved by order entitled to hearing before commission; appeals from
action of commission. (a) Any person aggrieved by an order issued under this chapter shall
be entitled to a hearing, as authorized for contested cases, pursuant to the Administrative
Procedure Act, Chapter 22 of Title 41, if the aggrieved person, within 28 days after delivery
of the order, submits a written request for a hearing before the commission. The order shall
disclose the right to a hearing upon written request within 28 days after delivery of the
order. If no timely request for a hearing is made, the order shall constitute a final order
of the commission. (b) Any appeal from any final order of the commission shall be made to
the Circuit Court of Montgomery County and shall be governed by the provisions of the Administrative
Procedure Act pertaining to judicial review. (Act 2017-389, §2.)...
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27-29-6
Section 27-29-6 Registered insurers - Examination of records, etc., of insurer or affiliates.
(a) Subject to the limitation contained in this section and in addition to the powers which
the commissioner has under Sections 27-2-7, 27-2-21, 27-2-23, and 27-2-26, relating to the
examination of insurers, the commissioner shall also have the power to examine any insurer
registered under Section 27-29-4 and its affiliates to ascertain the financial condition of
the insurer, including the enterprise risk to the insurer by the ultimate controlling party,
by any entity or combination of entities within the insurance holding company system, or by
the insurance holding company system on a consolidated basis. (b)(1) The commissioner may
order any insurer registered under Section 27-29-4 to produce such records, books, or other
information papers in the possession of the insurer or its affiliates as are reasonably necessary
to determine compliance with this title. (2) To determine compliance with...
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27-29B-6
Section 27-29B-6 Confidentiality. (a) Documents, materials, or other information, including
the CGAD, in the possession or control of the department that are obtained by, created by,
or disclosed to the commissioner or any other person under this chapter, are recognized by
this state as being proprietary and to contain trade secrets. All of the documents, materials,
or other information shall be confidential by law and privileged, shall not be subject to
any open records, freedom of information, sunshine, or other public record disclosure laws,
shall not be subject to subpoena, and shall not be subject to discovery or admissible in evidence
in any private civil action. However, the commissioner may use the documents, materials, or
other information in the furtherance of any regulatory or legal action brought as a part of
the official duties of the commissioner. The commissioner shall not otherwise make the documents,
materials, or other information public without the prior written...
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27-32-16
Section 27-32-16 Conduct of delinquency proceedings - Foreign insurers. (a) Whenever under
this chapter an ancillary receiver is to be appointed in delinquency proceedings for an insurer
not domiciled in this state, the court shall appoint the commissioner as ancillary receiver.
The commissioner shall file a petition requesting the appointment on the grounds set forth
in Section 27-32-10: (1) If he finds that there are sufficient assets of the insurer located
in this state to justify the appointment of an ancillary receiver; or (2) If 10 or more persons,
resident in this state, having claims against such insurer, file a petition with the commissioner
requesting the appointment of such ancillary receiver. (b) The domiciliary receiver, for the
purpose of liquidating an insurer domiciled in a reciprocal state, shall be vested by operation
of law with the title to all of the property, contracts, and rights of action and all of the
books and records of the insurer located in this state, and...
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