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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
27-2-21
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
34-1-13
Section 34-1-13 Revocation or suspension of registration and permit to practice; censure of
permit holder. (a) After notice and hearing as provided in Section 34-1-14, the board shall
revoke the registration and permit to practice of a firm if at any time it does not have all
the qualifications prescribed by the section of this chapter under which it qualified for
registration. (b) After notice and hearing as provided in Section 34-1-14, the board may revoke
or suspend the registration of a firm or may revoke, suspend, or refuse to renew its permit
under Section 34-1-11 to practice, or may censure the holder of any permit for any of the
causes enumerated in Section 34-1-12 or for any of the following additional causes: (1) The
revocation or suspension of the certificate or registration or the revocation, suspension,
or refusal to renew the permit to practice of any licensee. (2) The cancellation, revocation,
suspension, or refusal to renew the authority of the firm or any owner...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-1-13.htm - 1K - Match Info - Similar pages
32-5A-195
Section 32-5A-195 Cancellation, suspension, or revocation of driver's license; grounds, procedure,
etc. (a) The Secretary of the Alabama State Law Enforcement Agency is authorized to cancel
any driver's license upon determining that the licensee was not entitled to the issuance thereof
or that the licensee failed to give the correct or required information in his or her application.
Upon such cancellation, the licensee must surrender the license so cancelled. If the licensee
refuses to surrender the license, he or she shall be guilty of a misdemeanor. (b) The privilege
of driving a motor vehicle on the highways of this state given to a nonresident shall be subject
to suspension or revocation by the Secretary of the Alabama State Law Enforcement Agency in
like manner and for like cause as a driver's license issued may be suspended or revoked. (c)
The Secretary of the Alabama State Law Enforcement Agency is further authorized, upon receiving
a record of the conviction in this state of a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-5A-195.htm - 11K - Match Info - Similar pages
27-10-1
Section 27-10-1 Representing or aiding unauthorized insurer not allowed; exceptions; validity
of contracts. (a) No person shall in this state, directly or indirectly, act as agent for,
or otherwise represent or aid on behalf of another, any insurer not then authorized to transact
such insurance in this state in the solicitation, negotiation, or effectuation of insurance
or annuity contracts, forwarding of applications, delivery of policies or contracts, inspection
of risks, fixing of rates, investigation or adjustment of losses, collection of premiums,
or in any other manner in the transaction of insurance with respect to subjects of insurance
resident, located or to be performed in this state. (b) This section shall not apply to: (1)
Acceptance of service of process by the commissioner under Section 27-10-52; (2) Surplus lines
insurance or coverage specified in Section 27-10-34 and other transactions as to which a certificate
of authority is not required of an insurer; (3) Adjustment...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-1.htm - 2K - Match Info - Similar pages
27-30-21
Section 27-30-21 Accounts and records. (a) Every mutual aid association shall keep complete
and accurate accounts and records of its affairs and transactions, in accordance with the
usual and accepted methods and principles of insurance accounting and record keeping as applicable
to the kind of business transacted by the association. (b) All such accounts and records of
a mutual aid association shall be kept in the principal offices of the association located
in this state and be available for inspection thereat by the commissioner on any general business
day. (c) The commissioner may suspend or revoke the certificate of authority of any association
found by him to be in violation of this section. (Acts 1971, No. 407, p. 707, §577.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-30-21.htm - 1K - 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
27-9A-8
Section 27-9A-8 Prelicensing course and examination. (a)(1) Every individual subject to the
examination required in subsection (b) shall first complete a prelicensing course consisting
of 20 classroom hours per line of authority, or equivalent individual instruction. (2) The
prelicensing course shall have been completed within 12 months before the date of the related
examination as shown on the certificate furnished by the prelicensing course provider. (3)
Every prelicensing course provider shall apply annually for the continued authority to issue
certificates of completion under rules to be prescribed by the commissioner. (4) At the time
of initial approval and annually thereafter, the commissioner shall collect from each prelicensing
course provider a fee set by the commissioner not to exceed one hundred dollars ($100). The
fee shall be deposited in the State Treasury to the credit of the Insurance Department Fund.
Public institutions shall be exempt from paying the fee, but shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-9A-8.htm - 3K - Match Info - Similar pages
34-24-302
Section 34-24-302 Denial, suspension, revocation, etc., of license; investigation; mental,
physical, or laboratory examination; authorization for release of information. (a) The board
may, within its discretion, deny the issuance of a license to any person or, after notice
and hearing in accordance with board regulations, shall, within its discretion, suspend, revoke,
restrict, or otherwise discipline the license of a person who shall be found guilty on the
basis of substantial evidence of any of the following acts or offenses: (1) Conviction of
a felony. (2) Conviction of any crime or other offense, felony, or misdemeanor, reflecting
on the ability of the individual to render patient care in a safe manner. (3) Conviction of
any violation of state or federal laws relating to controlled substances. (4) Termination,
restriction, suspension, revocation, or curtailment of licensure, registration, or certification
as an assistant to physician by another state or other licensing jurisdiction...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-24-302.htm - 7K - Match Info - Similar pages
22-21-370
Section 22-21-370 Posting of securities or surety bond; custody of securities; exemption from
taxation; release of securities or bond; modification orders; hearing; effect of failure to
comply. (a) To assure the faithful performance of its obligations in the event of insolvency
each dental service corporation authorized under Section 22-21-364 shall, through the commissioner,
deposit and maintain with the Treasurer of the State Securities of the type eligible for deposit
by insurers under Section 27-6-3, which securities shall have at all times a market value
as follows: (1) A corporation which has operated no dental service plan in this state prior
to January 1, 1983, shall, prior to the issuance of its certificate of authority and before
receiving any subscription payments, place in trust with the Treasurer of the State, through
the commissioner an initial amount of $50,000.00; (2) A corporation operating a dental service
plan business in this state prior to January 1, 1983, and...
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