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27-3-14
Section 27-3-14 Deposit requirements - Alien insurers - Generally. (a) An alien insurer
shall not have authority to transact insurance in this state unless it has and maintains within
the United States as deposits with trustees, public depositaries or in trust institutions
approved by the commissioner under Section 27-3-15 assets available for discharge of
its United States insurance obligations, which assets shall be in amount not less than the
outstanding liabilities of the insurer arising out of its insurance transactions in the United
States together with the greater of the following sums: (1) The largest deposit required by
Section 27-3-11 to be made by foreign insurers transacting like kinds of insurance;
or (2) $300,000.00. (b) Of the amount deposited by an alien insurer, an amount not less than
that required under subdivisions (a)(1) or (a)(2) of this section shall be deposited
and maintained on deposit in cash or securities eligible for deposit under Section
27-6-3 with the...
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27-45-2
Section 27-45-2 Definitions. As used in this article, the following terms shall have
the respective meanings herein set forth, unless the context shall otherwise require: (1)
ALABAMA INSURANCE CODE. Title 27 of the Code of Alabama 1975. (2) INSURER. Such term shall
have the meaning ascribed in Section 27-1-2. (3) PERSON. Such term shall have the meaning
ascribed in Section 27-1-2. (4) COMMISSIONER and DEPARTMENT. Such terms, respectively,
shall have the meanings ascribed in Section 27-1-2. (5) CONTRACTUAL OBLIGATION. Any
obligation under covered policies or employee benefit plans. (6) COVERED POLICY OR PLAN. Any
policy, employee benefit plan, or contract within the scope of this article. (7) HEALTH INSURANCE
POLICY. Any individual, group, blanket, or franchise insurance policy, insurance agreement,
or group hospital service contract providing for pharmaceutical services, including without
limitation, prescription drugs, incurred as a result of accident or sickness, or to prevent
same....
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27-19A-2
Section 27-19A-2 Definitions. As used in this chapter, the following terms shall have
the respective meanings herein set forth, unless the context shall otherwise require: (1)
ALABAMA INSURANCE CODE. Title 27 of the Code of Alabama 1975. (2) INSURER. Such term shall
have the meaning ascribed in Section 27-1-2. (3) PERSON. Such term shall have the meaning
ascribed in Section 27-1-2. (4) COMMISSIONER and DEPARTMENT. Such terms, respectively,
shall have the meanings ascribed in Section 27-1-2. (5) CONTRACTUAL OBLIGATION. Any
obligation under covered policies or employee benefit plans. (6) COVERED POLICY OR PLAN. Any
policy, employee benefit plan, or contract within the scope of this chapter. (7) HEALTH INSURANCE
POLICY. Any individual, group, blanket, or franchise insurance policy, insurance agreement,
or group hospital service contract providing benefits for dental care expenses incurred as
a result of an accident or sickness. (8) EMPLOYEE BENEFIT PLAN. Any plan, fund, or program...
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25-5-8
Section 25-5-8 Employers' options to secure payment of compensation. (a) Option to insure
risks. An employer subject to this chapter may secure the payment of compensation under this
chapter by insuring and keeping insured his or her liability in some insurance corporation,
association, organization, insurance association, corporation, or association formed of employers
and workers or formed by a group of employers to insure the risks under this chapter, operating
by mutual assessment or other plans or otherwise. Notwithstanding the foregoing, the insurance
association, organization, or corporation shall have first had its contract and plan of business
approved in writing by the Commissioner of the Department of Insurance of Alabama and have
been authorized by the Department of Insurance to transact the business of workers' compensation
insurance in this state and under the plan. Notwithstanding any other provision of the law
to the contrary, the obligations of employers under law for...
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27-29-6
Section 27-29-6 Registered insurers - Examination of records, etc., of insurer or affiliates.
(a) Subject to the limitation contained in this section and in addition to the powers
which the commissioner has under Sections 27-2-7, 27-2-21, 27-2-23, and 27-2-26, relating
to the examination of insurers, the commissioner shall also have the power to examine any
insurer registered under Section 27-29-4 and its affiliates to ascertain the financial
condition of the insurer, including the enterprise risk to the insurer by the ultimate controlling
party, by any entity or combination of entities within the insurance holding company system,
or by the insurance holding company system on a consolidated basis. (b)(1) The commissioner
may order any insurer registered under Section 27-29-4 to produce such records, books,
or other information papers in the possession of the insurer or its affiliates as are reasonably
necessary to determine compliance with this title. (2) To determine compliance with...
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27-7-4.4
Section 27-7-4.4 Fingerprints. (a) In order to make a determination of insurance producer
license eligibility, the commissioner is authorized to require fingerprints of initial resident
applicants for an insurance producer license and to submit the fingerprints and the fee required
to perform the criminal history record checks to the Alabama Department of Public Safety and
the Federal Bureau of Investigation (FBI) for state and national criminal history record checks.
(b) The commissioner shall require a criminal history record check on each initial resident
applicant for insurance producer license in accordance with this section. The commissioner
shall require each applicant to submit a full set of fingerprints, including a scanned file
from a hard copy fingerprint, in order for the commissioner to obtain and receive national
criminal history records from the FBI Criminal Justice Information Services Division. (c)
The commissioner may contract for the collection, transmission, and...
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27-1-2
Section 27-1-2 Definitions. For the purposes of this title, the following terms shall
have the meanings respectively ascribed to them by this section. (1) INSURANCE. A contract
whereby one undertakes to indemnify another or pay or provide a specified amount or benefit
upon determinable contingencies. (2) INSURER. Every person engaged as indemnitor, surety,
or contractor in the business of entering into contracts of insurance. (3) PERSON. An individual,
insurer, company, association, organization, Lloyd's insurer, society, reciprocal insurer
or interinsurance exchange, partnership, syndicate, business trust, corporation, and every
legal entity. (4) COMMISSIONER. The Commissioner of Insurance of this state. (5) DEPARTMENT.
The Department of Insurance of this state. (6) DOMESTIC INSURER. One formed under the laws
of this state. (7) FOREIGN INSURER. One formed under the laws of any jurisdiction other than
this state. Except where distinguished by context, "foreign" insurers includes also...
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27-3-13
Section 27-3-13 Deposit requirements - Special deposit - Title insurers. (a) For authority
to transact such insurance in this state, a foreign title insurer shall have and maintain
on deposit in this state for the better protection of its guaranty holders and creditors,
resident in this state, under its contracts of title insurance, cash and securities eligible
under Section 27-6-3 having a value at all times of not less than $50,000.00. The deposit
shall be so made and maintained in trust with a bank or trust company located in this state,
approved by the commissioner, having a capital and surplus of not less than $500,000.00. (b)
At its option, a domestic title insurer may maintain a deposit in like manner, amount, character
and for like purposes as required for foreign insurers under subsection (a) of this section.
(c) Such deposits shall be subject to the applicable provisions of Chapter 6 of this title.
(Acts 1923, No. 485, p. 635; Acts 1971, No. 407, p. 707, ยง58.)...
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5-26-3
Section 5-26-3 Definitions. For purposes of this chapter, the following definitions
shall apply: (1) DEPOSITORY INSTITUTION. The term "depository institution" has the
same meaning as in Section 3 of the Federal Deposit Insurance Act, and includes any
credit union. (2) FEDERAL BANKING AGENCIES. The term "federal banking agencies"
means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency,
the Director of the Office of Thrift Supervision, the National Credit Union Administration,
and the Federal Deposit Insurance Corporation. (3) IMMEDIATE FAMILY MEMBER. The term "immediate
family member" means a spouse, child, sibling, parent, grandparent, or grandchild. This
includes stepparents, stepchildren, stepsiblings, and adoptive relationships. (4) INDIVIDUAL.
The term "individual" means a natural person. (5) LOAN PROCESSOR OR UNDERWRITER.
(a) In General. The term "loan processor or underwriter" means an individual who
performs clerical or support duties as an...
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10A-20-6.16
Section 10A-20-6.16 Applicability of insurance laws. (a) No statute of this state applying
to insurance companies shall be applicable to any corporation organized under this article
and amendments thereto or to any contract made by the corporation; except the corporation
shall be subject to the following: (1) The provisions regarding annual premium tax to be paid
by insurers on insurance premiums. (2) Chapter 55 of Title 27. (3) Article 2 and Article 3
of Chapter 19 of Title 27. (4) Section 27-1-17. (5) Chapter 56 of Title 27. (6) Rules
promulgated by the Commissioner of Insurance pursuant to Sections 27-7-43 and 27-7-44. (7)
Chapter 54 of Title 27. (8) Chapter 57 of Title 27. (9) Chapter 58 of Title 27. (10) Chapter
59 of Title 27. (11) Chapter 54A of Title 27. (12) Chapter 12A of Title 27. (13) Chapter 2B
of Title 27. (14) Chapter 29 of Title 27. (15) Chapter 62 of Title 27. (b) The provisions
in subsection (a) that require specific types of coverage to be offered or provided shall...
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