|
27-3-6
Section 27-3-6 Authority to transact insurance - Kind or combinations of kinds - Restrictions.
An insurer which otherwise qualifies therefor may be authorized to transact any one kind or
combination of kinds of insurance as defined in Chapter 5 of this title, except: (1) A life
insurer may grant annuities and shall be authorized to transact in addition only disability
insurance, and no insurer shall be authorized to transact life insurance in this state which
transacts anywhere any kind of insurance in addition to life and disability insurances and
annuities; except, that the commissioner shall, if the insurer otherwise qualifies therefor,
continue to so authorize any life insurer which, immediately prior to the effective date of
this title, was lawfully authorized to transact in this state a kind or kinds of insurance
in addition to life and disability; (2) A reciprocal or Lloyd's plan insurer shall not transact
life insurance; and (3) A title insurer shall be a stock insurer and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-6.htm - 1K - Match Info - Similar pages
27-30-27
Section 27-30-27 Qualification of corporation for original certificate of authority.
(a) When applying for an original certificate of authority, a domestic corporation formed
to transact a mutual aid business on the mutual plan must be otherwise qualified therefor
under this title, must have entered into bona fide agreements for insurance of the kind proposed
to be transacted, with not less than 500 persons and must have received therefrom as initial
premiums, fees, or contributions at rates theretofore filed with, and approved by, the commissioner
as being both adequate and reasonable, not less than $25,000.00 in cash. (b) No such agreements
shall be solicited, however, except pursuant to a solicitation permit granted by the commissioner
as provided in Sections 27-27-4 through 27-27-7. (Acts 1939, No. 374, p. 502; Acts 1971, No.
407, p. 707, §585.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-30-27.htm - 1K - Match Info - Similar pages
27-35-6
Section 27-35-6 Conversion into stock or mutual life insurance company - Certificates
of incorporation and authority. The society shall have corporate existence as a domestic stock
or mutual life insurer upon issuance of the certificate of incorporation by the commissioner
or approval of the amended articles of incorporation, as the case may be; but it shall not
transact business as an insurer until all its authorized capital stock, if a stock insurer,
has been subscribed and paid in full and it has otherwise qualified for, and received from
the commissioner, a certificate of authority as provided in this title for legal reserve insurers.
(Acts 1971, No. 407, p. 707, §732.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-35-6.htm - 988 bytes - Match Info - Similar pages
27-7-4
Section 27-7-4 Licenses - Requirement; forms. (a) No person shall in this state sell,
solicit, or negotiate insurance for any class or classes of insurance unless the person is
then licensed for that line of authority in accordance with this chapter. Any insurer accepting
business directly from a person not licensed for that line of authority and not appointed
by the insurer shall be liable to a fine up to three times the premium received from the person.
(b) No producer shall act on behalf of any insurer for which an appointment is not held under
this chapter. A producer who is not acting on behalf of an insurer is not required to become
appointed. For purposes of this section, a producer who refers business to an appointed
producer pursuant to Section 27-7-34 shall not be deemed to be acting on behalf of
the insurer with whom the business is placed, regardless of whether commissions on this business
are shared. (c) The commissioner shall prescribe and furnish on request all forms...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-4.htm - 1K - Match Info - Similar pages
36-29-6
Section 36-29-6 Authorization and execution of contracts; documentation of benefits.
(a) The board is hereby authorized to execute a contract or contracts to provide the plan
determined in accordance with the provisions of this chapter. Such contract or contracts may
be executed with one or more agencies or corporations licensed to transact or administer group
health insurance business in this state. All of the benefits to be provided under this chapter
may be included in one or more similar contracts issued by the same or different companies.
(b) Before entering into any contract or contracts authorized by subsection (a) of this section,
the board shall invite competitive bids from all qualified entities who may wish to administer
or offer plans for the health insurance coverage desired. The board shall award such contract
or contracts on a competitive basis as determined by the benefits afforded, administrative
costs, the costs to be incurred by employee, retiree, and employer, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-29-6.htm - 3K - Match Info - Similar pages
27-31A-4
Section 27-31A-4 Risk retention groups not chartered in this state. Risk retention groups
chartered and licensed in states other than this state and seeking to do business as a risk
retention group in this state shall comply with the laws of this state as follows: (1) NOTICE
OF OPERATIONS AND DESIGNATION OF COMMISSIONER AS AGENT. a. Before offering insurance in this
state, a risk retention group shall submit to the commissioner both of the following: 1. A
statement identifying the state or states in which the risk retention group is chartered and
licensed as a liability insurance company, charter date, its principal place of business,
and other information, including information on its membership, as the commissioner of this
state may require to verify that the risk retention group is qualified pursuant to subdivision
(11) of Section 27-31A-2. 2. A copy of its plan of operations or feasibility study
and revisions of the plan or study submitted to the state in which the risk retention...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31A-4.htm - 8K - Match Info - Similar pages
27-34-32
Section 27-34-32 Accident or health and total or permanent disability insurance contracts.
(a) No domestic, foreign, or alien society authorized to do business in this state shall issue
or deliver in this state any certificate or other evidence of any contract of accident insurance
or health insurance or of any total and permanent disability insurance contract unless and
until the form thereof, together with the form of application and all riders or endorsements
for use in connection therewith, shall have been filed with the commissioner. (b) The commissioner
shall have power, from time to time, to make, alter, and supersede reasonable regulations
prescribing the required, optional, and prohibited provisions in such contracts, and such
regulations shall conform, as far as practicable, to the provisions of Chapter 19 of this
title. Where the commissioner deems inapplicable, either in part or in their entirety, the
provisions of Chapter 19 of this title, he may prescribe the portions, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-34-32.htm - 1K - Match Info - Similar pages
27-34-50
Section 27-34-50 Actions to enjoin or in quo warranto; liquidation; receivership. (a)
When the commissioner upon investigation finds that a domestic society: (1) Has exceeded its
powers; or (2) Has failed to comply with any provision of this chapter; or (3) Is not fulfilling
its contracts in good faith; or (4) Has a membership of less than 400 after an existence of
one year or more; or (5) Is conducting business fraudulently or in a manner hazardous to its
members, creditors, the public or the business, he shall notify the society of his findings,
state in writing the reasons for his dissatisfaction and require the society to show cause
on a date named why it should not be enjoined from carrying on any business until the violation
complained of shall have been corrected or why an action in quo warranto should not be commenced
against the society. (b) If on such date the society does not present good and sufficient
reasons why it should not be so enjoined or why such action should not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-34-50.htm - 3K - Match Info - Similar pages
27-7-5
Section 27-7-5 Licenses - Qualifications. (a) An individual applying for a resident
insurance producer license shall make application to the commissioner on the Uniform Application,
and an individual applying for a service representative license shall make application to
the commissioner on the application prescribed by the commissioner, each declaring under penalty
of refusal, suspension, or revocation of the license that the statements made in the application
are true, correct, and complete to the best of the individual's knowledge and belief. Before
approving the application, the commissioner shall find that the individual has satisfied all
of the following: (1) The individual is at least 18 years of age. (2) The individual has not
committed any act that is a ground for denial, suspension, or revocation set forth in Section
27-7-19. (3) The individual has completed a prelicensing course of study for the lines of
authority for which the person has applied, consisting of 20 classroom...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-5.htm - 6K - Match Info - Similar pages
27-9A-2
Section 27-9A-2 Definitions. For purposes of this chapter, the following terms shall
have the meanings respectively ascribed to them by this section: (1) APPRENTICE INDEPENDENT
ADJUSTER. As defined in Section 27-9A-11. (2) BUSINESS ENTITY. A corporation, association,
partnership, limited liability company, limited liability partnership, or other legal entity.
(3) COMMISSIONER. The Alabama Commissioner of Insurance. (4) HOME STATE. The District of Columbia
and any state or territory of the United States in which an independent adjuster maintains
the principal place of residence or business of the adjuster and in which the adjuster is
licensed to act as a resident independent adjuster. In the case of a resident of a Canadian
province, or if the resident state or territory does not license independent adjusters for
the line of authority sought, the home state of the independent adjuster shall be any state
in which the independent adjuster is licensed and in good standing, as designated by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-9A-2.htm - 2K - Match Info - Similar pages
|