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27-5B-10
Section 27-5B-10 Reinsurer not licensed, accredited or certified - Additional reinsurance agreement
requirements. (a) If the assuming insurer is not licensed, accredited or certified to transact
insurance or reinsurance in this state, the credit permitted by Sections 27-5B-6 and 27-5B-7
shall not be allowed unless the assuming insurer agrees in the reinsurance agreements: (1)
That in the event of the failure of the assuming insurer to perform its obligations under
the terms of the reinsurance agreement, the assuming insurer, at the request of the ceding
insurer, shall submit to the jurisdiction of any court of competent jurisdiction in any state
of the United States, will comply with all requirements necessary to give the court jurisdiction,
and will abide by the final decision of the court or of any appellate court in the event of
an appeal. (2) To designate the commissioner or a designated attorney as its true and lawful
attorney upon whom may be served any lawful process in any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5B-10.htm - 1K - Match Info - Similar pages
27-11-5
Section 27-11-5 Secretary of State as agent for service of process on insurer; service of process;
attachment of jurisdiction; fees for service. (a) Any insurer not qualified under the laws
of this state to transact the business of insurance as evidenced by a license or certificate
of authority from the Commissioner of Insurance which shall transact, or attempt to transact,
the business of insurance in this state or which shall do, or attempt to do, any of the acts
and occurrences set out in Section 27-11-3 shall, by the doing of such business or the performing
or attempting to perform any of such acts, be deemed to have appointed the Secretary of State,
or his successor or successors in office, to be the true and lawful attorney or agent of such
insurer whom process may be served in any action accrued or accruing from the transacting
of such business or the performing of such act by any such insurer, or by its agent, servant,
or employee. Service of such process shall be made by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-11-5.htm - 4K - Match Info - Similar pages
27-2-23
Section 27-2-23 Examinations - How conducted. (a) The examination may be conducted by the commissioner
or his accredited examiners at the offices wherever located of the person being examined and
at such other places as may be required for determination of matters under examination. (b)
Every person being examined, its officers, attorneys, employees, agents, and representatives,
shall make freely available to the commissioner or his examiners the accounts, records, documents,
files, information, assets, and matters in his possession or control relating to the subject
of the examination. (c) If the commissioner or examiner finds any account or record of an
insurer being examined to be inadequate or inadequately kept or posted for proper examination
of the condition and affairs of the examinee, he shall give written notice to such examinee
specifying: (1) The deficiencies to be corrected; and (2) A reasonable period within which
to correct the stated deficiencies. If the examinee fails...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-2-23.htm - 2K - Match Info - Similar pages
27-6-3
Section 27-6-3 Deposits of insurers - Composition. (a) All such deposits required under Sections
27-3-11, 27-3-12, and 27-3-14 for authority to transact insurance in this state shall consist
of certified checks, or certificates of deposit or any combination of securities, the market
value of which is readily ascertainable, and, if negotiable by delivery or assignment, of
the kinds described below: (1) United States government obligations; (2) State, county, municipal,
and school obligations; (3) Public improvement obligations; (4) Housing authority obligations;
(5) Obligations, stock of certain federal agencies; (6) Canadian governmental obligations;
(7) International banks; (8) Corporate obligations; (9) Equipment trust obligations; and (10)
Railroad leased lines, terminal obligations. (b) All such deposits required of a domestic
insurer pursuant to the laws of another state, province, or country shall be comprised of
securities, if negotiable by delivery or assignment, of the kind,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6-3.htm - 3K - Match Info - Similar pages
27-6-8
Section 27-6-8 Securities and assets - Authority to sell; exception. The commissioner shall
exercise the power granted by the power of attorney provided for in Section 27-6-7 or otherwise
sell any security or asset under any assignment, transfer or conveyance pursuant to Section
27-6-6, only pursuant to, and in accordance with, an order of a court of competent jurisdiction
in a proper proceeding or action to which the insurer owning such securities or assets is
a party. This section shall not apply as to the special deposits of surety insurers which
are subject to Section 27-6-13. (Acts 1953, No. 727, p. 981, §2; Acts 1971, No. 407, p. 707,
§104.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6-8.htm - 965 bytes - Match Info - Similar pages
27-7-30.2
Section 27-7-30.2 Liability for disclosure of information, etc. (a) In the absence of actual
malice, an insurer, the authorized representative of the insurer, a producer, the commissioner,
or an organization of which the commissioner is a member and that compiles the information
and makes it available to other insurance commissioners or regulatory or law enforcement agencies
shall not be subject to civil liability, and a civil cause of action by a producer or other
person named in the report as having acted in concert with the producer of any nature shall
not arise against these entities or their respective agents or employees, as a result of any
statement or information required by or provided pursuant to Section 27-7-30, or any information
relating to any statement that may be requested in writing by the commissioner, from an insurer
or producer; or a statement by a terminating insurer or producer to an insurer or producer
limited solely and exclusively to whether a termination for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-30.2.htm - 2K - Match Info - Similar pages
2-21-25
Section 2-21-25 Rules and regulations. (a) The commissioner, with the approval of the board,
is authorized to promulgate such rules and regulations for commercial feeds and pet foods
as are specifically authorized in this chapter and such other reasonable rules and regulations
as may be necessary for the efficient enforcement of this chapter. In the interest of uniformity,
the commissioner shall, by regulations, adopt, unless he determines that they are inconsistent
with the provisions of this chapter or are not appropriate to conditions which exist in this
state, the following: (1) The official definitions of feed ingredients and official feed terms
adopted by the Association of American Feed Control Officials and published in the official
publication of that organization; and (2) Any regulation promulgated pursuant to the authority
of the Federal Food, Drug and Cosmetic Act (21 U.S.C. Section 301, et seq.); provided, that
the commissioner, with the approval of the board, would have...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-21-25.htm - 2K - Match Info - Similar pages
22-21-382
Section 22-21-382 Contracting sales representatives - Administrative penalty in lieu of discretionary
suspension, revocation, etc. (a) If, pursuant to procedures provided for in this article,
it is found that one or more grounds exist for the suspension or revocation of, or refusal
to renew or continue, any registration issued under this article, and except when such suspension,
revocation, or refusal is mandatory, an order may be entered imposing upon the registrant,
in lieu of such suspension, revocation, or refusal, an administrative penalty for each violation
in the amount of $100.00 or, in the event of willful misconduct or willful violation on the
part of the registrant, an administrative fine of $500.00. The administrative penalty may
be augmented in amount by an amount equal to any commissions received by or accruing to the
credit of the registrant in connection with any transaction to which the grounds for suspension,
revocation, or refusal related. (b) The order may allow the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-382.htm - 1K - Match Info - Similar pages
27-25-4.5
Section 27-25-4.5 License denial, non-renewal, or revocation. (a) The commissioner may place
on probation, suspend, revoke, or refuse to issue or renew the license of a title insurance
agent or may levy a civil penalty pursuant to subsection (d), or any combination of these
actions, for any one or more of the following causes: (1) Providing incorrect, misleading,
incomplete, or materially untrue information in the license application. (2) Violating any
insurance laws, rules, subpoena, or order of the commissioner. (3) Obtaining or attempting
to obtain a license through misrepresentation or fraud. (4) Improperly withholding, misappropriating,
or converting any monies or properties received in the course of acting as a title insurance
agent or in otherwise doing insurance business in this state or elsewhere. (5) Intentionally
misrepresenting the terms of an actual title insurance contract. (6) Having been convicted
of a felony. (7) Having admitted or been found to have committed any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-25-4.5.htm - 3K - Match Info - Similar pages
27-28-2
Section 27-28-2 Plan for exchange of stock, etc., between domestic stock insurer and holding
company - Procedure for exchange. A plan of exchange shall be adopted and become effective
in the following manner: (1) APPROVAL OF THE BOARDS OF DIRECTORS. - The boards of directors
of each corporate party to the plan of exchange by resolution shall adopt the plan of exchange
which shall set forth the terms and conditions of the exchange and the mode of carrying the
same into effect and such other provisions with respect to the exchange as may be deemed necessary
or desirable. (2) APPROVAL OF COMMISSIONER. - Every plan of exchange, before being submitted
to vote of the stockholders pursuant to subdivision (3) of this section, shall be submitted
for approval to the commissioner in accordance with the following procedure: a. After the
approval required by subdivision (1) of this section is obtained, the domestic company shall
submit to the commissioner three copies of the plan of exchange and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-28-2.htm - 13K - Match Info - Similar pages
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