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27-25-4.8
Section 27-25-4.8 Implementation. (a) The commissioner, by rule pursuant to Chapter 2, may
provide for the implementation of the requirements of this chapter. (b) Each title insurance
agent certificate of authority in force prior to January 1, 2013, shall be issued a replacement
title insurance agent license and appointment upon payment of the annual fee in the amount
set forth in Section 27-25-4 prior to January 1, 2013. A replacement title insurance agent
shall be authorized to continue to issue title insurance policies in the same manner as permitted
in Section 27-25-4 prior to January 1, 2013. (c) A replacement title insurance agent license
issued in accordance with subsection (b) shall be valid for six months, during which time
the person shall satisfy the requirements for a title insurance agent license pursuant to
Sections 27-25-4.1 and 27-25-4.3 or the replacement license shall thereupon expire and be
canceled. The appointment issued in accordance with subsection (b) shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-25-4.8.htm - 2K - Match Info - Similar pages
27-30-6
Section 27-30-6 Capital stock or surplus requirements for existing associations. Any domestic
mutual aid association which immediately prior to January 1, 1972, lawfully held a certificate
of authority or license to transact such business in this state and which is otherwise in
compliance with the requirements of this chapter shall be entitled to have a certificate of
authority while it has and maintains unimpaired paid-in capital stock, if a stock corporation,
or surplus, if a mutual corporation, as follows: (1) If it is a stock corporation, it must
have and maintain capital stock of at least $25,000.00; except, that an association having
unimpaired paid-in capital stock on January 1, 1972, in less than such amount shall as of
each December 31, following January 1, 1972, have increased its unimpaired paid-in capital
stock by an amount equal to not less than 20 percent of such original deficiency, so that,
and until not later than the fifth such December 31, the association shall have...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-30-6.htm - 2K - Match Info - Similar pages
27-31-25
Section 27-31-25 Nonassessable policies. (a) If a reciprocal insurer has a surplus of assets
over all liabilities at least equal to the minimum capital stock required of a domestic stock
insurer authorized to transact like kinds of insurance, upon application of the attorney and
as approved by the subscribers' advisory committee, the commissioner shall issue his certificate
authorizing the insurer to extinguish the contingent liability of subscribers under its policies
then in force in this state and to omit provisions imposing contingent liability in all policies
delivered, or issued for delivery, in this state for so long as all such surplus remains unimpaired.
(b) Upon impairment of such surplus, the commissioner shall forthwith revoke the certificate.
Such revocation shall not render subject to contingent liability any policy then in force
and for the remainder of the period for which the premium has theretofore been paid; but after
such revocation, no policy shall be issued or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31-25.htm - 2K - Match Info - Similar pages
27-34-7
Section 27-34-7 License - Foreign or alien societies - Application; qualifications. (a) No
foreign or alien society shall transact business in this state without a license issued by
the commissioner. Any such society may be licensed to transact business in this state upon
filing with the commissioner: (1) A duly certified copy of its charter or articles of incorporation;
(2) A copy of its constitution and laws, certified by its secretary or corresponding officer;
(3) A power of attorney to the commissioner as prescribed in Section 27-34-47; (4) A statement
of its business under oath of its president and secretary, or corresponding officers, in a
form prescribed by the commissioner, duly verified by an examination made by the supervising
insurance official of its home state or other state, territory, province, or country satisfactory
to the commissioner; (5) A certificate from the proper official of its home state, territory,
province, or country that the society is legally incorporated...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-34-7.htm - 1K - Match Info - Similar pages
27-42-10
Section 27-42-10 Duties and powers of the commissioner; judicial review. (a) The commissioner
shall: (1) Notify the association of the existence of an insolvent insurer not later than
three days after he receives notice of determination of the insolvency. The association shall
be entitled to a copy of any complaint seeking an order of liquidation with a finding of insolvency
against a member company at the time that such complaint is filed with a court of competent
jurisdiction. (2) Upon request of the board of directors, provide the association with a statement
of the net direct written premiums of each member insurer. (b) The commissioner may: (1) Require
that the association notify the insureds of the insolvent insurer and any other interested
parties of the determination of insolvency and of their rights under this chapter. Such notification
shall be by mail at their last known address, where available, but if sufficient information
for notification by mail is not available, notice...
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27-44-11
Section 27-44-11 Duties and powers of commissioner; appeal and review; notification. In addition
to the duties and powers enumerated elsewhere in this chapter: (1) The commissioner shall:
a. Upon request of the board of directors, provide the association with a statement of the
premiums in the appropriate states for each member insurer. b. When an impairment is declared
and the amount of the impairment is determined, serve a demand upon the impaired insurer to
make good the impairment within a reasonable time. Notice to the impaired insurer shall constitute
notice to its shareholders, if any. The failure of the insurer to promptly comply with such
demand shall not excuse the association from the performance of its powers and duties under
this chapter. c. In any liquidation or rehabilitation proceeding involving a domestic insurer,
petition the court of competent jurisdiction to have the chief of the receivership division
appointed as the liquidator or rehabilitator. If a foreign or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-11.htm - 2K - Match Info - Similar pages
27-21A-17
Section 27-21A-17 Suspension or revocation of certificate of authority. (a) The commissioner
in consultation with and with the approval of the State Health Officer, where necessary, may
suspend or revoke any certificate of authority issued to a health maintenance organization
under this chapter if he finds that any of the following conditions exist: (1) The health
maintenance organization is operating significantly in contravention of its basic organizational
document or in a manner contrary to that described in any other information submitted under
Section 27-21A-2, unless amendments to such submissions have been filed with the commissioner
and the State Health Officer and approved by the commissioner; (2) The health maintenance
organization issues evidence of coverage or uses a schedule of charges for health care services
which do not comply with requirements of Section 27-21A-7; (3) The health maintenance organization
does not provide or arrange for basic health care services; (4)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-21A-17.htm - 3K - Match Info - Similar pages
27-3-17
Section 27-3-17 Application for certificate of authority - Filing. To apply for an original
certificate of authority an insurer shall file with the commissioner its application therefor,
accompanied by the applicable fees as specified in Section 27-4-2, showing its name, location
of its home office or, if an alien insurer, principal office in the United States, kinds of
insurance to be transacted, state or country of domicile and such additional information as
the commissioner may reasonably require, together with the following documents, as applicable:
(1) A copy of its corporate charter, articles of incorporation or other charter documents
with all amendments thereto, certified by the public officer with whom the originals are on
file in the state or country of domicile; (2) If a mutual insurer, a copy of its bylaws, as
amended, certified by its secretary or other officer having custody thereof; (3) If a foreign
reciprocal insurer, copies of the power of attorney of its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-17.htm - 3K - Match Info - Similar pages
27-3-32
Section 27-3-32 Domestic insurer may transfer domicile to another state and be admitted as
foreign insurer if so qualified; approval of Commissioner of Insurance; effect of interests
of policyholders; effect upon certificates of authority, agents, etc., including outstanding
policies; insurer's duty to file new policy forms; insurer's duty to notify commissioner of
details of transfer and file amendments required by law. The certificate of authority, agents
appointments and licenses, rates, and other items which the Commissioner of Insurance allows,
in his discretion, which are in existence at the time any insurer licensed to transact the
business of insurance in this state transfers its corporate domicile to this or any other
state by merger, consolidation or any other lawful method shall continue in full force and
effect upon such transfer if such insurer remains duly qualified to transact the business
of insurance in this state. All outstanding policies of any transferring insurer...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-32.htm - 2K - 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, ยง585.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-30-27.htm - 1K - Match Info - Similar pages
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