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27-31B-2
Section 27-31B-2 Definitions. As used in this chapter, the following terms shall have
the following meanings, unless the context clearly indicates otherwise: (1) AFFILIATED COMPANY.
Any company in the same corporate system as a parent, an industrial insured, or a member organization
by virtue of common ownership, control, operation, or management. (2) ALIEN CAPTIVE INSURANCE
COMPANY. Any insurance company formed to write insurance business for its parents and affiliates
and licensed pursuant to the laws of an alien jurisdiction which imposes statutory or regulatory
standards in a form acceptable to the commissioner on companies transacting the business of
insurance in that jurisdiction. (3) ASSOCIATION. Any legal association of individuals, corporations,
limited liability companies, partnerships, associations, or other entities whereby either
of the following exists: a. The member organizations of which, or the association itself,
whether or not in conjunction with some or all of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-2.htm - 10K - Match Info - Similar pages
27-43-13
Section 27-43-13 Fees and taxes required of legal service insurance corporations; applicability
of general insurance laws to legal service insurance corporations. (a) A legal service insurance
corporation will pay the prescribed fees and taxes required of a domestic casualty insurer.
(b) The following provisions of the insurance laws of this state apply to legal service insurance
corporations authorized under Section 27-43-8, to the extent that they are not inconsistent
with the provisions of this chapter: (1) Chapters 27-1 and 27-2 - Administration and General
Provisions; (2) Chapter 27-4 - Fees and Taxes; (3) Chapter 27-6 - Administration of Deposits;
(4) Chapter 27-11 [27-12] - Unfair Trade Practices; and (5) Chapter 27-32 - Insurer Insolvency;
Rehabilitation and Liquidation. (c) The commissioner may by rule modify or waive any requirements
referred to in subsection (b) of this section for legal service insurers if it is necessary
to avoid unreasonable hardship, expense, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-43-13.htm - 1K - Match Info - Similar pages
27-32-1
Section 27-32-1 Definitions. For the purposes of this chapter, the following terms shall
have the meanings respectively ascribed to them by this section: (1) IMPAIRMENT or
INSOLVENCY. The capital of a stock insurer, the net assets of a Lloyd's plan insurer or the
surplus of a mutual or reciprocal insurer shall be deemed to be impaired and the insurer shall
be deemed to be insolvent when such insurer is not possessed of assets at least equal to all
liabilities and required reserves, together with its total issued and outstanding capital
stock, if a stock insurer, or the minimum surplus, if a Lloyd's plan, mutual or reciprocal
insurer, required by this title to be maintained for the kind or kinds of insurance it is
then authorized to transact. (2) INSURER. Any person, firm, corporation, association, or aggregation
of persons doing an insurance business and subject to the insurance supervisory authority
of, or to liquidation, rehabilitation, reorganization, or conservation by, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-1.htm - 4K - Match Info - Similar pages
27-27-14
Section 27-27-14 Solicitation permit for subsequent financing. (a) No insurer, or insurance
holding corporation, or stock corporation for financing operations of a mutual insurer, or
attorney-in-fact corporation, or a reciprocal insurer, or any other type of organization existing
for the same purpose, after: (1) It has received a certificate of authority, if an insurer,
in this or any other state; or (2) It has completed its initial organization and financing,
if a corporation, syndicate, or other organization other than an insurer, shall in this state
solicit or receive funds in exchange for its securities, other than when combining and selling,
for the account of its stockholders entitled thereto, fractional shares to which they become
entitled through a stock dividend to existing stockholders until it has applied to the commissioner
for, and has been granted, a solicitation permit. (b) The commissioner shall issue such a
permit unless he finds: (1) That the funds proposed to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-14.htm - 2K - Match Info - Similar pages
27-3-29
Section 27-3-29 Protection of state insurers against foreign discriminatory or onerous
requirements. (a) The purpose of this section is to aid in the protection of insurers
formed under the laws of Alabama and transacting insurance in other states or countries against
discriminatory or onerous requirements under the laws of such states or countries or the administration
thereof. (b) When by or pursuant to the laws of any other state or foreign country, any taxes,
licenses, and other fees, in the aggregate, and any fines, penalties, deposit requirements,
or other material obligations, prohibitions, or restrictions are, or would be, imposed upon
Alabama insurers, or upon the agents or representatives of such insurers, which are in excess
of such taxes, licenses, and other fees, in the aggregate, or which are in excess of the fines,
penalties, deposit requirements, or other obligations, prohibitions, or restrictions directly
imposed upon similar insurers, or upon the agents or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-29.htm - 3K - Match Info - Similar pages
27-31A-2
Section 27-31A-2 Definitions. As used in this chapter, the following terms shall have
the following meanings, respectively, unless the context clearly indicates otherwise: (1)
COMMISSIONER. The Insurance Commissioner of this state or the commissioner, director, or superintendent
of insurance in any other state. (2) COMPLETED OPERATIONS LIABILITY. Liability arising out
of the installation, maintenance, or repair of any product at a site which is not owned or
controlled by either of the following: a. Any person who performs that work. b. Any person
who hires an independent contractor to perform that work, but shall include liability for
activities which are completed or abandoned before the date of the occurrence giving rise
to the liability. (3) DOMICILE. For purposes of determining the state in which a purchasing
group is domiciled: a. For a corporation, the state in which the purchasing group is incorporated.
b. For an unincorporated entity, the state of its principal place of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31A-2.htm - 8K - Match Info - Similar pages
27-27-10
Section 27-27-10 Solicitation permit - Bond or deposit in lieu thereof; waiver of same.
(a) Except as to proposed domestic insurers which are subject to the requirements of Section
27-27-16, the commissioner shall not issue a solicitation permit until the applicant therefor
has filed with him a corporate surety bond in the penalty of $15,000.00 in favor of the State
of Alabama and for the use and benefit of the state and of proposed Alabama investors in and
creditors of the proposed organization. (b) The bond shall be conditioned upon the payment
of costs incurred by the state in event of any legal proceedings for liquidation or dissolution
of the proposed organization before completion of organization or in event a certificate of
authority is not granted and upon a full accounting for funds received until the proposed
insurer has been granted its certificate of authority or until the proposed corporation, syndicate,
organization, or financing has been completed as defined in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-10.htm - 2K - Match Info - Similar pages
11-62-1
Section 11-62-1 Definitions. (a) The following words and phrases used in this chapter,
and others evidently intended as the equivalent thereof, shall, in the absence of clear implication
herein otherwise, be given the following respective interpretations herein: (1) AUTHORITY.
Any public corporation organized pursuant to this chapter. (2) AUTHORIZED PURPOSE OBLIGATION.
The term includes either of the following: a. Any lease, note, installment sale contract,
or any other obligation of a user, whether general or special, which was entered into, made,
assumed, or otherwise incurred by the user, in whole or in part, for the purpose of financing
the acquisition or ownership of one or more facilities, for the purpose of obtaining funds
with which to operate one or more facilities or for any combination of those purposes. b.
Any obligation of any kind which was entered into, made, assumed, or otherwise incurred by
the United States of America or any department, agency, or instrumentality...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-1.htm - 7K - Match Info - Similar pages
11-97-2
Section 11-97-2 Definitions. The following words and phrases used in this chapter, and
others evidently intended as the equivalent thereof, shall, in the absence of a clear implication
herein otherwise, be given the following respective interpretations herein: (1) APPLICANT.
A natural person who files a written application with the governing body of any county or
municipality in accordance with the provisions of Section 11-97-3 hereof. (2) AUTHORIZING
RESOLUTION. A resolution of ordinance adopted by the governing body of any county or municipality
in accordance with the provisions of Section 11-97-3 hereof, that authorizes the incorporation
of a corporation. (3) BOARD. The board of directors of a corporation. (4) BONDS. Bonds, notes,
or other obligations representing an obligation to pay money. (5) CORPORATION. Any public
corporation organized pursuant to the provisions of this chapter. (6) COSTS. As applied to
a facility or any portion thereof, shall include all or any part of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-97-2.htm - 10K - Match Info - Similar pages
27-12-10
Section 27-12-10 Financial inducements to purchase insurance. (a) No person shall issue
or deliver, or permit its agents, officers, or employees to issue or deliver, agency company
stock or other capital stock, or benefit certificates or shares in any common-law corporation,
or securities, or any special or advisory board contract or other contract of any kind promising
returns and profits as an inducement to insurance. The commissioner shall refuse to issue
a certificate of authority or license to any insurer or other person that is in violation
of this section and shall revoke the certificate of authority or license of any such
violating insurer or person if such authority or license is already outstanding. (b) No person
shall issue or deliver, or permit its agents, officers, or employees to issue or deliver,
in this state, any life insurance policy or contract of annuity in which are used such words
as "investment plan," "expansion plan," "profit-sharing," "charter
plan," "founders'...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-12-10.htm - 2K - Match Info - Similar pages
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