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27-30-9
Section 27-30-9 Certificate of authority - Issuance or refusal. If, upon completion of the
application for a certificate of authority, the commissioner finds: (1) That the documents
filed with the application are lawful and equitable in terms and have been properly executed
and filed; (2) That the applicant has the amount of unimpaired paid-in capital stock and/or
surplus as required under this chapter and has made the deposit required under Section 27-30-18;
(3) That the forms of contracts, policies, or other agreements proposed to be used by the
association in this state fulfill the requirements of Section 27-30-14 and are not disapproved
by him on any ground referred to in subsection (c) of Section 27-30-14; (4) That the proposed
schedule of fees, dues, contributions, or other sums to be charged or received by the association
are provided for on a practical and feasible basis and would be adequate in amount to cover
the risks and obligations to be assumed by the association under...
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27-32-16
Section 27-32-16 Conduct of delinquency proceedings - Foreign insurers. (a) Whenever under
this chapter an ancillary receiver is to be appointed in delinquency proceedings for an insurer
not domiciled in this state, the court shall appoint the commissioner as ancillary receiver.
The commissioner shall file a petition requesting the appointment on the grounds set forth
in Section 27-32-10: (1) If he finds that there are sufficient assets of the insurer located
in this state to justify the appointment of an ancillary receiver; or (2) If 10 or more persons,
resident in this state, having claims against such insurer, file a petition with the commissioner
requesting the appointment of such ancillary receiver. (b) The domiciliary receiver, for the
purpose of liquidating an insurer domiciled in a reciprocal state, shall be vested by operation
of law with the title to all of the property, contracts, and rights of action and all of the
books and records of the insurer located in this state, and...
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5-13B-82
Section 5-13B-82 Application to establish and maintain a branch or agency - Contents. (a) A
foreign bank, in order to procure a license under this article to establish and maintain an
Alabama state branch or Alabama state agency shall submit an application to the superintendent.
Such application shall contain: (1) The same information as required by the Board of Governors
of the Federal Reserve System for an application to establish a branch or agency, as the case
may be, in the United States; and (2) Such additional information as the superintendent may
require by regulation or order. (b) In addition to the information required to be included
in an application for a license to establish and maintain an Alabama state branch or Alabama
state agency listed in subsection (a), the superintendent may as he or she deems necessary
or appropriate require a foreign bank to include as part of such an application an instrument
irrevocably appointing the superintendent and his or her successors in...
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27-2-21
Section 27-2-21 Examinations - Affairs, etc., of insurers and surplus line brokers. (a) For
the purpose of determining its financial condition, ability to fulfill its obligations and
compliance with the law, the commissioner shall examine the affairs, transactions, accounts,
records, and assets of each authorized insurer, and the records of surplus line brokers restricted
to those matters under Section 27-10-29, including the attorney-in-fact of a reciprocal insurer
insofar as insurer transactions are involved as often as the commissioner deems appropriate
but shall, at a minimum, conduct an examination of every insurer licensed in this state not
less frequently than once every five years. In scheduling and determining the nature, scope,
and frequency of the examinations, the commissioner shall consider such matters as the results
of financial statement analyses and ratios, changes in management or ownership, actuarial
opinions, reports of independent certified public accountants, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-2-21.htm - 3K - Match Info - Similar pages
27-36A-3
Section 27-36A-3 Reserve valuation. (a) Policies and contracts issued prior to the operative
date of the valuation manual. (1) The commissioner shall annually value, or cause to be valued,
the reserve liabilities, hereinafter called reserves, for all outstanding life insurance policies
and annuity and pure endowment contracts of every life insurance company doing business in
this state issued on or after January 1, 1972, and prior to the operative date of the valuation
manual. In calculating reserves, the commissioner may use group methods and approximate averages
for fractions of a year or otherwise. In lieu of the valuation of the reserves required of
any foreign or alien insurer, the commissioner may accept any valuation made, or caused to
be made, by the insurance supervisory official of any state or other jurisdiction when valuation
complies with the minimum standard provided in this chapter. (2) The provisions set forth
in Sections 27-36A-5, 27-36A-6, 27-36A-7, 27-36A-8,...
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34-15-13
Section 34-15-13 Safe depository for valuable articles - Conditional liability. Such hotel
as shall maintain a safe depository and display notice as is required by Section 34-15-12
shall, in no event and under no circumstances or conditions, be liable in any amount for any
loss, damage, or destruction of the valuables of a guest by theft, burglary, fire, or by any
other cause whatsoever, whether or not of a nature enumerated above, if the valuables shall
not have been left with the hotel, its clerk or agent for deposit in the safe depository.
Whenever the phrase "loss, damage, or destruction by theft or otherwise" is used
in this chapter, it shall include any loss, damage, or destruction of the valuables, baggage,
or property of a guest, as the case may be, by theft, burglary, fire, or by any other cause
whatsoever, whether or not of a nature enumerated above. If a hotel maintains a safe depository
and valuables are left by a guest with the hotel, its clerk or agent for deposit in the...
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5-20-3
Section 5-20-3 Definitions. Notwithstanding any other provision of law, for the purposes of
this chapter, the following terms shall have the meanings prescribed by this section: (1)
ALABAMA BANK. A bank which is organized under the laws of this state or of the United States
and which has its principal place of business in this state. (2) BANK. Any "insured bank"
as such term is defined in Section 3(h) of the Federal Deposit Insurance Act, 12 U.S.C. §1813(h).
(3) BANK HOLDING COMPANY. Any company which is a bank holding company under the Bank Holding
Company Act of 1956, as amended, 12 U.S.C. §1841(a). (4) CREDIT CARD. Any type of arrangement
or agreement pursuant to which any domestic lender or credit card bank, whether directly or
indirectly through any domestic lender acting as its agent, gives a debtor the privilege of
using a credit card or other credit confirmation, device or instrument of any type in transactions
out of which debt arises: a. By the domestic lender or credit...
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25-4-148
Section 25-4-148 Disposition of trust funds, etc., in event of invalidity of provisions pertaining
to payment of contributions and benefits. If at any time the Governor shall find that the
provisions of this chapter requiring the payment of contributions and benefits have been held
invalid under the Constitution of this state by the Supreme Court of this state or under the
United States Constitution by the Supreme Court of the United States in such manner that any
person or concern required to pay contributions under this chapter might secure a similar
decision, or that the tax imposed by Title IX of the Social Security Act, as amended, or any
other federal tax against which contributions under this chapter may be credited has been
amended or repealed by Congress or has been held unconstitutional by the Supreme Court of
the United States, with the result that no portion of the contributions required by this chapter
may be credited against such federal tax, the Governor shall publicly...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-4-148.htm - 2K - Match Info - Similar pages
27-3-8
Section 27-3-8 Authority to transact insurance - Kind or combinations of kinds - Special surplus.
(a) In addition to the minimum paid-in capital stock (stock insurers) or minimum surplus (mutual
and reciprocal insurers) required by Section 27-3-7, special surplus shall be possessed by
insurers hereafter applying for original certificates of authority in this state as follows:
(1) All stock insurers and foreign mutual and foreign reciprocal insurers which have actively
transacted insurance in their states or countries of domicile as an authorized insurer for
less than five years and which do not meet the requirements of paragraphs (2) a or (2) b of
Section 27-3-4, when first authorized to transact insurance in this state shall have a surplus
or additional surplus equal to 150 percent of the paid-up capital stock, if a stock insurer,
or surplus, if a foreign mutual or foreign reciprocal insurer, otherwise required under Section
27-3-7 for the kinds of insurance to be transacted; and (2)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-8.htm - 2K - Match Info - Similar pages
27-6-4
Section 27-6-4 Deposits of insurers - State Treasurer as custodian. (a) Deposits made in this
state under Sections 27-3-11, 27-3-12, and 27-3-14, together with deposit of reserves of domestic
life insurers under registered policies heretofore issued, shall be made through the commissioner
with the Treasurer of the State of Alabama. (b) The State Treasurer, in his official capacity,
shall take receipt for and hold deposits made under this title as provided in subsection (a)
of this section, subject to the provisions of this chapter. (c) The State Treasurer shall
hold all such deposits in safekeeping in the vaults located in his offices or, if space in
such vaults is not reasonably adequate and safe for all securities and property otherwise
to be contained therein, the Treasurer may keep such securities in safe deposit boxes rented
by him for the purpose and under his control in established safe deposit institutions located
in the City of Montgomery, Alabama. (d) The Treasurer shall be...
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