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27-3-14
Section 27-3-14 Deposit requirements - Alien insurers - Generally. (a) An alien insurer shall
not have authority to transact insurance in this state unless it has and maintains within
the United States as deposits with trustees, public depositaries or in trust institutions
approved by the commissioner under Section 27-3-15 assets available for discharge of its United
States insurance obligations, which assets shall be in amount not less than the outstanding
liabilities of the insurer arising out of its insurance transactions in the United States
together with the greater of the following sums: (1) The largest deposit required by Section
27-3-11 to be made by foreign insurers transacting like kinds of insurance; or (2) $300,000.00.
(b) Of the amount deposited by an alien insurer, an amount not less than that required under
subdivisions (a)(1) or (a)(2) of this section shall be deposited and maintained on deposit
in cash or securities eligible for deposit under Section 27-6-3 with the...
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27-6-10
Section 27-6-10 Power of attorney - New power of attorney. If less than all of the securities
or assets covered by any such power of attorney is returned to the insurer or its trustee
or agent, the commissioner may require the insurer to deliver to him, as a condition precedent
to the return of such power of attorney, a new power of attorney covering the securities and
assets not then being withdrawn. The new power of attorney shall be held and exercised under
the same restrictions and upon the same conditions as prescribed in this chapter for the original
power of attorney. (Acts 1953, No. 727, p. 981, §4; Acts 1971, No. 407, p. 707, §106.)...
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41-14A-7
Section 41-14A-7 Disciplinary actions against qualified public depositories for violations
of this chapter. (a) The board of directors shall have the authority to establish by rule
or regulation conditions and procedures under which qualified public depositories may be suspended
or disqualified and assessed administrative penalties in lieu of suspension or disqualification
for violations of this chapter or violations of the board's standards, rules, regulations,
and orders pursuant to this chapter. The State Treasurer shall have the authority to require
that qualified public depositories violating this chapter or any of the board's standards,
rules, regulations, and orders make restitution, with interest at the legal rate, for losses
of public depositors or to the Loss Payment Fund, and to issue cease and desist orders against
any qualified public depository violating or believed to be violating any provisions of this
chapter or any of the board of directors' or the State Treasurer's...
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5-3A-6
Section 5-3A-6 Examination of witnesses and production of documents; penalties for false entry
or statement; proceedings against former employees. (a) For purposes of this section, a bank
holding company is a holding company organized under the laws of Alabama or another state
in the United States that directly owns a majority of the voting securities of an Alabama
state bank. (b) The superintendent and every examiner acting under the superintendent may
administer oaths and may examine under oath any person whose testimony may be required on
the examination of any bank or any bank holding company, on the examination of any affiliate
of a bank, or on the examination of any agency of any foreign bank and shall have authority
and power to compel the appearance and attendance of any such person or the production of
any records and documents of any bank, any bank holding company, any affiliate of a bank,
or any agency of a foreign bank for the purpose of any examination and attendance or...
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16-27A-7
Section 16-27A-7 Contesting a notice of violation; adjudication. (a) No person shall be responsible
for payment of a civil fine for a notice of violation issued under this chapter if the operator
of the vehicle that is the subject of the notice of violation is adjudicated to have not committed
a violation or there is otherwise a lawful determination that no civil penalty may be imposed.
Any person receiving a notice of violation pursuant to this chapter, in accordance with the
procedure set out in this chapter and on the notice of violation, may contest the notice of
violation by obtaining a hearing in the court. (b) District and municipal courts of this state
are vested with the power and jurisdiction to adjudicate a notice of violation issued pursuant
to this chapter as a civil offense whenever the offense is alleged to have occurred within
the geographic jurisdiction of the court. (c) The following procedures shall apply to proceedings
to contest a notice of violation issued...
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22-14-12
Section 22-14-12 Orders enjoining or directing compliance. Whenever, in the judgment of the
agency, any person has engaged in, or is about to engage in, any acts or practices which constitute,
or will constitute, a violation of any provision of this article, or any rule, regulation
or order issued thereunder, and at the request of the agency, the Attorney General, or the
district attorney under his direction, may make application to the circuit court for an order
enjoining such acts or practices or for an order directing compliance, and upon a showing
by the agency that such person has engaged, or is about to engage, in any such acts or practices,
a permanent or preliminary injunction, temporary restraining order or other order may be granted.
(Acts 1963, No. 582, p. 1269, §13.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-14-12.htm - 1K - Match Info - Similar pages
24-9-8
Section 24-9-8 Quiet title and foreclosure action. (a) The authority may initiate a quiet title
action under this section to quiet title to real property held by the authority or interests
in tax delinquent property held by the authority by recording with the office of the judge
of probate in the county in which the property subject to quiet title action is located a
notice of pending quiet title action. The notice shall include the name of the taxpayer whose
interest was affected by the tax sale; the name of any other party as revealed by a search
and examination of the title to the property who may claim an interest in the property; a
legal description of the property; the street address of the property if available; the name,
address, and telephone number of the authority; a statement that the property is subject to
the quiet title proceedings under Act 2013-249; and a statement that any legal interests in
the property may be extinguished by a circuit court order vesting title to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-9-8.htm - 13K - Match Info - Similar pages
27-27-12
Section 27-27-12 Deposit of solicitation permit funds in escrow - Requirement. (a) All funds
received in Alabama pursuant to a solicitation permit, other than advance premiums for insurance
which are subject to Section 27-27-18, shall, by the permit holder, be deposited and held
in escrow in a bank or trust company located in this state under an agreement approved by
the commissioner. (b) No part of such funds shall be withdrawn from such deposit, except:
(1) For the payment of promotion, sales, and organization expenses as authorized by the solicitation
permit, and funds for such purposes may be withheld from the deposit; (2) For the purpose
of making any deposit with the commissioner required for the issuance of a certificate of
authority to an insurer; (3) If the proposed organization is not to be an insurer, upon completion
of payments on securities subscriptions made under the solicitation permit and deposit or
appropriation of such funds to the purposes specified in the...
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27-27-50
Section 27-27-50 Extinguishment and nullification of domestic insurers' corporate charter.
(a) The corporate charter of any corporation formed under the laws of this state more than
three years prior to January 1, 1972, for the purpose of becoming an insurer and which corporation
within such three-year period has not actively engaged in business as a domestic insurer under
a certificate of authority issued to it by the commissioner under laws then in force is hereby
extinguished and nullified. (b) The corporate charter of any other corporation formed under
the laws of this state for the purpose of becoming an insurer and which corporation during
any period of 36 consecutive months after January 1, 1972, is not actively engaged in business
as a domestic insurer under a certificate of authority issued to it by the commissioner under
laws currently in force is automatically hereby extinguished and nullified at the expiration
of such 36-month period. (c) The period during which any such...
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27-29-10
Section 27-29-10 Violations and penalties; criminal proceedings. (a) Any insurer failing, without
just cause, to file any registration statement as required in this chapter shall be required,
after notice and hearing, to pay a penalty of up to one thousand dollars ($1,000) for each
day's delay, to be recovered by the commissioner and the penalty so recovered shall be paid
into the state General Fund. The maximum penalty under this section is fifty thousand dollars
($50,000). The commissioner may reduce the penalty if the commissioner, in the commissioner's
sole discretion, determines it is equitable to do so or the insurer demonstrates to the commissioner
that the imposition of the penalty would constitute a financial hardship to the insurer. (b)
Every director or officer of an insurance holding company system who knowingly violates, participates
in, or permits any of the officers or agents of the insurer to engage in transactions or make
investments that have not been properly...
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