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27-3-22
Section 27-3-22 Suspension or revocation of certificates - Order and notices. (a) Suspension
or revocation of an insurer's certificate of authority shall be by the commissioner's order
given to the insurer as provided by Section 27-2-18. The commissioner shall promptly also
give notice of such suspension or revocation to the insurer's agents in this state of record
in the commissioner's office. The insurer shall not solicit or write any new coverages in
this state during the period of any such suspension or revocation. (b) In his discretion,
the commissioner may cause notice of any such revocation to be published in one or more newspapers
of general circulation published in this state. (c) Upon revocation or suspension of the certificate
of authority of a surety insurer, the commissioner shall so notify each officer in this state
authorized to approve official bonds by circular letter stating the grounds of such suspension
or revocation. (Acts 1971, No. 407, p. 707, §67.)...
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27-3-21
Section 27-3-21 Suspension or revocation of certificates - Additional grounds; notice and hearing.
(a) The commissioner may, in his discretion, suspend or revoke an insurer's certificate of
authority if, after a hearing thereon, he finds that the insurer has willfully violated any
material provision of this title other than those for which suspension or revocation is mandatory
or has failed to pay applicable taxes with respect to a preceding calendar year as required
by this title. (b) The commissioner shall, after a hearing thereon, suspend or revoke an insurer's
certificate of authority if he finds that the insurer: (1) Is in unsound condition, or is
in such condition or is using such methods and practices in the conduct of its business as
to render its further transaction of insurance in this state hazardous to its policyholders
or to the public; (2) Has refused to be examined or to produce its accounts, records, and
files for examination or if any of its officers or agents have...
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27-3-23
Section 27-3-23 Suspension or revocation of certificates - Duration of suspension; obligations
of insurer during suspension; reinstatement. (a) Suspension of an insurer's certificate of
authority shall be for such period as is fixed by the commissioner in the order of suspension,
but not to exceed one year from the date of suspension, unless the commissioner shortens or
rescinds such suspension or the order upon which the suspension is based is modified, rescinded,
or reversed. (b) During the period of suspension the insurer shall file its annual statement,
pay fees, licenses and taxes as required under this title as if the certificate had continued
in full force, and it may service its outstanding policies and adjust losses thereunder. (c)
Upon expiration of the suspension period, if within such period the certificate of authority
has not otherwise terminated, the insurer's certificate of authority shall automatically reinstate
unless the commissioner finds that the causes of the...
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27-3-20
Section 27-3-20 Suspension or revocation of certificates - Mandatory grounds; notice and hearing.
(a) The commissioner shall suspend or revoke an insurer's certificate of authority: (1) If
such action is required by any provision of this title; (2) If the insurer no longer meets
the requirements for the authority originally granted on account of deficiency of assets or
otherwise; or (3) If the insurer's authority to transact insurance is suspended or revoked
by its state of domicile or state of entry into the United States if an alien insurer. (b)
Except in cases of insolvency or impairment of required capital or surplus or suspension or
revocation by another state as referred to in subdivision (a) (3) of this section, the commissioner
shall give the insurer at least 10 days' notice in advance of any such suspension or revocation
under this section and of the particulars of the reasons therefor. If the insurer requests
a hearing thereon within such 10 days, such request shall...
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27-30-12
Section 27-30-12 Certificate of authority - Suspension or revocation - Procedure. (a) If suspension
or revocation of certificate of authority relates to grounds other than the financial condition
of the association, the commissioner shall give the association written notice of his intention
to so suspend or revoke not less than 10 days in advance of the effective date of the proposed
order of suspension or revocation. The notice shall state the grounds of the commissioner's
proposed action, together with such details as reasonably to inform the association thereof.
Notice mailed to the association at its principal place of business last of record with the
commissioner shall be deemed to have been given when so mailed. If within such 10-day period
the association files with the commissioner its written request for a hearing with respect
to the proposed suspension or revocation, setting forth the reasons why, in its opinion, the
commissioner's proposed action is unlawful or should not be...
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27-12A-41
Section 27-12A-41 Assessments. (a) The commissioner shall assess each insurer authorized to
write insurance in the State of Alabama two hundred dollars ($200) per year in order to fund
the operations of the unit. (b) Assessments shall be due not less than 30 days after prior
written notice to the insurer and shall accrue interest at six percent per annum on and after
the due date. Failure to remit payment of an assessment shall warrant the suspension or revocation
of an insurer's certificate of authority. (c) As used in this section insurer authorized to
write insurance in the State of Alabama refers only to those entities defined in subdivision
(5) of Section 27-12A-1 which hold a certificate of authority from the commissioner. (Act
2012-429, §2.)...
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27-44-5
Section 27-44-5 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACCOUNT. Either
of the three accounts created under Section 27-44-6. (2) ASSOCIATION. The Alabama Life and
Disability Insurance Guaranty Association created under Section 27-44-6. (3) AUTHORIZED ASSESSMENT
or the term AUTHORIZED when used in the context of assessments. A resolution by the board
of directors has been passed whereby an assessment will be called immediately or in the future
from member insurers for a specified amount. An assessment is authorized when the resolution
is passed. (4) BENEFIT PLAN. A specific employee, union, or association of natural persons
benefit plan. (5) CALLED ASSESSMENT or the term CALLED when used in the context of assessments.
A notice that has been issued by the association to member insurers requiring that an authorized
assessment be paid within the time frame set forth within...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-5.htm - 7K - Match Info - Similar pages
41-22-3
Section 41-22-3 Definitions. The following words and phrases when used in this chapter shall
have the meanings respectively ascribed to them in this section, except when the context otherwise
requires: (1) AGENCY. Every board, bureau, commission, department, officer, or other administrative
office or unit of the state, including the Alabama Department of Environmental Management,
other than the Legislature and its agencies, the Alabama State Port Authority, the courts,
the Alabama Public Service Commission, or the State Banking Department, whose administrative
procedures are governed by Sections 5-2A-8 and 5-2A-9. The term does not include boards of
trustees of postsecondary institutions, boards of plans administered by public pension systems,
counties, municipalities, or any agencies of local governmental units, unless they are expressly
made subject to this chapter by general or special law. (2) COMMITTEE. The Joint Committee
on Administrative Rule Review, comprised of the members of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-22-3.htm - 6K - Match Info - Similar pages
27-60-2
Section 27-60-2 Interstate Insurance Product Regulation Compact. The State of Alabama hereby
agrees to the following interstate compact known as the Interstate Insurance Product Regulation
Compact: ARTICLE I. PURPOSES. The purposes of this compact are, through means of joint and
cooperative action among the compacting states: 1. To promote and protect the interest of
consumers of individual and group annuity, life insurance, disability income, and long-term
care insurance products; 2. To develop uniform standards for insurance products covered under
the compact; 3. To establish a central clearinghouse to receive and provide prompt review
of insurance products covered under the compact and, in certain cases, advertisements related
thereto, submitted by insurers authorized to do business in one or more compacting states;
4. To give appropriate regulatory approval to those product filings and advertisements satisfying
the applicable uniform standard; 5. To improve coordination of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-60-2.htm - 45K - Match Info - Similar pages
27-29-12
Section 27-29-12 Suspension, revocation or nonrenewal of insurer's license or authority to
do business. Whenever it appears to the commissioner that any person has committed a violation
of this chapter which makes the continued operation of an insurer contrary to the interests
of policyholders or the public, the commissioner may, after giving notice and an opportunity
to be heard, determine to suspend, revoke, or refuse to renew such insurer's license or authority
to do business in this state for such period as he finds is required for the protection of
policyholders or the public. Any such determination shall be accompanied by specific findings
of fact and conclusions of law. (Acts 1973, No. 1042, p. 1636, §13.)...
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