|
41-10-764
Section 41-10-764 Dissolution. At any time when no bonds of the authority are outstanding,
the authority may be dissolved upon the filing with the Secretary of State of an application
for dissolution, which shall be subscribed by each of the directors of the authority and sworn
to by each director before an officer authorized to take acknowledgments to deeds. Upon the
filing of the application for dissolution, the authority shall cease to exist. The Secretary
of State shall file and record the application for dissolution in an appropriate book of record
in his or her office, and shall make and issue, under the Great Seal of the State, a certificate
that the authority is dissolved, and shall record the certificate with the application for
dissolution. Title to all property held in the name of the authority shall be vested in the
state upon dissolution of the authority. (Act 2016-469, 1st Sp Sess., §15.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-764.htm - 1K - Match Info - Similar pages
27-21A-22
Section 27-21A-22 Penalties and enforcement. (a) The commissioner may, in lieu of suspension
or revocation of a certificate of authority under Section 27-21A-17, levy an administrative
penalty in an amount not less than $500.00 nor more than $5,000.00, if reasonable notice in
writing is given of the intent to levy the penalty and the health maintenance organization
has a reasonable time within which to remedy the defect in its operations which gave rise
to the penalty citation. The commissioner may augment this penalty by an amount equal to the
sum that he calculates to be the damages suffered by enrollees or other members of the public.
All moneys collected under this section shall be deposited to the credit of the General Fund.
(b)(1) If the commissioner or the State Health Officer shall for any reason have cause to
believe that any violation of this chapter has occurred or is threatened, the commissioner
or State Health Officer may give notice to the health maintenance organization...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-21A-22.htm - 3K - Match Info - Similar pages
27-27-12
Section 27-27-12 Deposit of solicitation permit funds in escrow - Requirement. (a) All funds
received in Alabama pursuant to a solicitation permit, other than advance premiums for insurance
which are subject to Section 27-27-18, shall, by the permit holder, be deposited and held
in escrow in a bank or trust company located in this state under an agreement approved by
the commissioner. (b) No part of such funds shall be withdrawn from such deposit, except:
(1) For the payment of promotion, sales, and organization expenses as authorized by the solicitation
permit, and funds for such purposes may be withheld from the deposit; (2) For the purpose
of making any deposit with the commissioner required for the issuance of a certificate of
authority to an insurer; (3) If the proposed organization is not to be an insurer, upon completion
of payments on securities subscriptions made under the solicitation permit and deposit or
appropriation of such funds to the purposes specified in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-12.htm - 1K - Match Info - Similar pages
27-3-4
Section 27-3-4 Authority to transact insurance - Eligibility. To qualify for and hold authority
to transact insurance in this state, an insurer must be otherwise in compliance with this
title and with its charter powers and must be an incorporated stock insurer or an incorporated
mutual insurer or a reciprocal insurer, all of the same general type as may be formed as a
domestic insurer under this title; except that: (1) No foreign insurer shall be authorized
to transact insurance in this state which does not maintain reserves as required by Chapter
36 of this title applicable to the kind, or kinds, of insurance transacted by such insurer,
wherever transacted in the United States, or which transacts insurance in the United States
on the assessment premium plan, stipulated premium plan, cooperative plan, or any similar
plan; (2) Any foreign insurer which has transacted insurance as an authorized insurer in its
state or country of domicile for less than five years shall not be authorized...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-4.htm - 3K - Match Info - Similar pages
27-31B-8
Section 27-31B-8 Formation of captive insurance companies in this state. (a) A pure captive
insurance company or a protected cell captive insurance company shall be formed as a stock
or mutual insurer, or as a nonprofit or limited liability company with its capital divided
into units and held by the stockholders, members, or other equivalent as allowed by law. (b)
An association captive insurance company, an industrial insured captive insurance company,
or a risk retention group may be formed in any of the following ways: (1) Organized as a stock
insurer with its capital divided into share units and held by the stockholders, members, or
other equivalent as allowed by law. (2) Organized as a mutual insurer without capital stock,
the governing body of which is elected by the member organizations of its association. (3)
Organized as a reciprocal insurer in accordance with Chapter 31 of this title. (4) Organized
as a manager-managed limited liability company. (c) A captive insurance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-8.htm - 6K - Match Info - Similar pages
27-35-6
Section 27-35-6 Conversion into stock or mutual life insurance company - Certificates of incorporation
and authority. The society shall have corporate existence as a domestic stock or mutual life
insurer upon issuance of the certificate of incorporation by the commissioner or approval
of the amended articles of incorporation, as the case may be; but it shall not transact business
as an insurer until all its authorized capital stock, if a stock insurer, has been subscribed
and paid in full and it has otherwise qualified for, and received from the commissioner, a
certificate of authority as provided in this title for legal reserve insurers. (Acts 1971,
No. 407, p. 707, §732.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-35-6.htm - 988 bytes - Match Info - Similar pages
27-39-2
Section 27-39-2 Applicability of chapter. This chapter shall be deemed and held exclusive authority
for the organization and operation of automobile clubs and associations within this state,
and such clubs and associations shall not be subject to any other laws respecting insurance
companies of any class, kind, or character except as to the conduct of hearings by the commissioner
and appeals therefrom; provided, however, that this chapter shall not affect the validity
of any membership certificate of any automobile club or association issued and outstanding
prior to January 1, 1972. Notwithstanding the aforementioned, nothing in this chapter shall
be construed as authority for a licensed automobile club or association to provide or furnish
insurance coverage unless such clubs shall have complied with all the laws and regulations
required of insurance companies authorized to do business in this state. (Acts 1971, No. 407,
p. 707, §805.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-39-2.htm - 1K - Match Info - Similar pages
22-21-361
Section 22-21-361 Definitions. The following terms shall have the meanings respectively ascribed
by this section unless the context clearly indicates otherwise: (1) COMMISSIONER. The commissioner
of insurance of this state. (2) DENTAL SERVICE PLAN or PLAN. Any plan or other arrangement
whereby dental services are provided in whole or in part through a dental service corporation
by dentists participating in the plan to provide dental services to those members of the public
who become subscribers to the plan under a contract with such corporation. The terms "dental
service plan" or "plan" do not include an insurer authorized by the insurance
department to transact insurance in this state or to a nonprofit health insurance plan organized
pursuant to Section 10-4-100, or to any policy of insurance or contract which includes dental
benefits issued by such insurer or nonprofit health insurance plan. (3) DEPARTMENT. The Department
of Insurance. (4) LICENSE. The certificate of authority issued...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-361.htm - 1K - Match Info - Similar pages
23-1-318
Section 23-1-318 Dissolution. At any time when no securities of any kind of the authority,
whether issued under this article or under authorization contained in any other act, are outstanding,
the authority may be dissolved upon the filing with the Secretary of State of an application
for dissolution, which shall be subscribed by each of the members of the authority and which
shall be sworn to by each such member before an officer authorized to take acknowledgments
to deeds. Upon the filing of said application for dissolution, the authority shall cease and
any property owned by it at the time of its dissolution shall pass to the State of Alabama.
The Secretary of State shall file and record the application for dissolution in an appropriate
book of record in his office and shall make and issue, under the Great Seal of the State,
a certificate that the authority is dissolved and shall record the said certificate with the
application for dissolution. (Acts 1976, No. 565, p. 764, §19.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-1-318.htm - 1K - 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
|