27-25-3
Section 27-25-3 Definitions. For the purposes of this chapter, the following terms shall
have the following meanings: (1) ABSTRACT OF TITLE. A compilation or summary of all instruments
of public record of whatever kind or nature which in any manner affect title to a specified
parcel of real property. (2) BUSINESS ENTITY. A domestic entity properly formed and existing
under Title 10A. (3) COMMISSIONER. The Commissioner of the Alabama Department of Insurance.
(4) INDIVIDUAL. A natural person. (5) NAIC. The National Association of Insurance Commissioners,
its subsidiaries and affiliates, and any successor thereof. (6) OPINION OF TITLE. A written
expression of the status of title, including, but not limited to, the validity or invalidity
thereof, based upon an examination by an attorney at law, who is licensed to practice law
in this state, of instruments of public record or an abstract thereof affecting title to a
specified parcel of real property to ascertain the history and present...
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27-31B-22
Section 27-31B-22 Protected cell captive insurance companies. (a) One or more sponsors
may form a protected cell captive insurance company under this chapter. (b) A protected cell
captive insurance company formed or licensed under this chapter may establish and maintain
one or more protected cells to insure risks of one or more participants, subject to all of
the following conditions: (1) Each protected cell shall be accounted for separately on the
books and records of the protected cell captive insurance company to reflect the financial
condition and results of operations of the protected cell, net income or loss, dividends or
other distributions to participants, and other factors as may be provided in the participant
contract or required by the commissioner. (2) The assets of a protected cell shall not be
chargeable with liabilities arising out of any other insurance business the protected cell
captive insurance company may conduct. (3) No sale, exchange, or other transfer of assets...

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27-31B-9
Section 27-31B-9 Reports and statements. (a) Captive insurance companies shall not be
required to make any annual report except as provided in this chapter. (b) Prior to March
1 of each year, each captive insurance company shall submit to the commissioner a report of
its financial condition, verified by oath of two of its executive officers. Except as provided
in Section 27-31B-6, each captive insurance company shall report using statutory accounting
principles, unless the commissioner approves the use of generally accepted accounting principles,
with any useful or necessary modifications or adaptations thereof required or approved or
accepted by the commissioner for the type of insurance and kinds of insurers to be reported
upon, and as supplemented by additional information required by the commissioner. Except as
otherwise provided, each association captive insurance company and each industrial insured
captive insurance company insuring the risks of an industrial insured group...
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11-101A-17
Section 11-101A-17 Securities are legal investments. Securities issued under this chapter
are hereby made legal investments for savings banks and insurance companies organized under
the laws of the state. Unless otherwise directed by the court having jurisdiction thereof
or the document that is the source of authority, a trustee, executor, administrator, guardian,
or one acting in any other fiduciary capacity may, in addition to any other investment powers
conferred by law and with the exercise of reasonable business prudence, invest trust funds
in securities of an authority. The governing body of any authorizing subdivision, or any county
or municipality in which any project of an authority may be situated, may, in its discretion,
invest in securities of the authority any idle or surplus money held in its treasury which
is not otherwise earmarked or pledged. (Act 2001-642, p. 1317, §1.)...
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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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11-57-19
Section 11-57-19 Investment in bonds - By executors, savings banks, insurance companies,
etc. Bonds issued under the provisions of this chapter are hereby made legal investments for
savings banks and insurance companies organized under the laws of the state. Unless otherwise
directed by the court having jurisdiction thereof or the document that is the source of authority,
a trustee, executor, administrator, guardian or one acting in any other fiduciary capacity
may, in addition to any other investment powers conferred by law and with the exercise of
reasonable business prudence, invest trust funds in bonds of the authority. (Acts 1961, No.
895, p. 1407, §21; Acts 1961, Ex. Sess., No. 289, p. 2335, §21.)...
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27-43-8
Section 27-43-8 Filing of application for certificate of authority; contents of application;
issuance of certificate. (a) The incorporators shall file with the commissioner an application
for a certificate of authority to do business upon a form to be furnished by the department,
which shall include or have attached the following: (1) The names and, for the preceding 10
years, all addresses and all occupations of all incorporators and proposed directors and officers;
(2) A certified copy of the corporate articles and bylaws and a list of the names, addresses,
and occupations of all directors and principal officers and, if previously incorporated, for
the three most recent years, the corporation annual statements and reports; (3) All agreements
relating to the corporation to which any incorporator or proposed director or officer is a
party; (4) A statement of the amount and sources of the funds available for organization expenses
and the proposed arrangements for reimbursement and...
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27-6-1
Section 27-6-1 Deposits of insurers - Authorized deposits. The following deposits of
insurers, when made through the commissioner, shall be accepted and held and shall be subject
to the provisions of this chapter: (1) Deposits required under this title for authority to
transact insurance in this state; (2) Deposits of domestic insurers when made pursuant to
the laws of other states, provinces, and countries as requirement for authority to transact
insurance in such state, province, or country; (3) Deposits of reserves made by domestic life
insurers under laws heretofore in force; and (4) Deposits in such additional amounts as are
permitted to be made under Section 27-6-11. (Acts 1971, No. 407, p. 707, §97.)...

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11-30-3
Section 11-30-3 Powers of liability self-insurance fund. Each liability self-insurance
fund established under provisions of this chapter shall have the power and authority to establish
a governing body of trustees; establish bylaws for the governing of such group; enter into
contracts with member counties; establish a schedule of benefits payable; establish a schedule
of charges to be collected from member counties for benefits provided; enter into contracts
with solvent insurance companies authorized to do business in this state; enter into management
and consultant contracts; hire attorneys and employees; and, exercise such powers and authority
incident to the purposes of this chapter. (Acts 1986, No. 86-499, p. 954, §3.)...
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40-14A-32
Section 40-14A-32 (Repealed for taxable years beginning on or after January 1, 2002.)
Exemptions. The tax levied by this article shall not apply to: (1) Financial institutions,
as defined in Section 40-16-1, that are subject to the provisions of Chapter 16 as
to the excise taxes levied on financial institutions; (2) Insurance companies that are subject
to the premium taxes levied by Chapter 4A of Title 27; (3) Corporations, limited liability
entities, companies, or associations whose property is assessed for taxation pursuant to the
provisions of Chapter 21 and are also obligated to serve the general public; (4) Real estate
investment trusts as defined in Chapter 13 of Title 10; and (5) Any corporation organized
as a not-for-profit corporation that does not engage in any business other than holding title
to property and paying the expenses thereof, including, without limitation, a property owner's
association or a corporation organized solely to hold title to property on a temporary...

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