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27-29-6.2
Section 27-29-6.2 Group-wide supervisor for internationally active insurance group. (a)(1)
The commissioner may act as the group-wide supervisor for any internationally active insurance
group in accordance with this section. The commissioner may otherwise acknowledge another
regulatory official as the group-wide supervisor where the internationally active insurance
group meets any of the following: a. Does not have substantial insurance operations in the
United States. b. Has substantial insurance operations in the United States, but not in this
state. c. Has substantial insurance operations in the United States and this state, but the
commissioner has determined pursuant to the factors set forth in subsections (b) and (f) that
the other regulatory official is the appropriate group-wide supervisor. (2) An insurance holding
company system that does not otherwise qualify as an internationally active insurance group
may request that the commissioner make a determination or acknowledgment...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-6.2.htm - 10K - Match Info - Similar pages
27-15-24
Section 27-15-24 Exclusions and restrictions in life insurance policies. (a) No policy of life
insurance shall be delivered or issued for delivery in this state if it contains any of the
following provisions: (1) A provision for a period shorter than that provided by statute within
which an action may be commenced on such a policy; and (2) A provision which excludes or restricts
liability for death caused in a certain specified manner or occurring while the insured has
a specified status; except, that a policy may contain provisions excluding or restricting
coverage as specified therein in the event of death under any one or more of the following
circumstances: a. Death as a result, directly or indirectly, of war, declared or undeclared,
or of action by military forces, or of any act or hazard of such war or action, or of service
in the military, naval, or air forces or in civilian forces auxiliary thereto, or from any
cause while a member of such military, naval, or air forces of any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-24.htm - 3K - Match Info - Similar pages
27-5B-10
Section 27-5B-10 Reinsurer not licensed, accredited or certified - Additional reinsurance agreement
requirements. (a) If the assuming insurer is not licensed, accredited or certified to transact
insurance or reinsurance in this state, the credit permitted by Sections 27-5B-6 and 27-5B-7
shall not be allowed unless the assuming insurer agrees in the reinsurance agreements: (1)
That in the event of the failure of the assuming insurer to perform its obligations under
the terms of the reinsurance agreement, the assuming insurer, at the request of the ceding
insurer, shall submit to the jurisdiction of any court of competent jurisdiction in any state
of the United States, will comply with all requirements necessary to give the court jurisdiction,
and will abide by the final decision of the court or of any appellate court in the event of
an appeal. (2) To designate the commissioner or a designated attorney as its true and lawful
attorney upon whom may be served any lawful process in any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5B-10.htm - 1K - Match Info - Similar pages
27-7-19
Section 27-7-19 Licenses - Penalties. (a) The commissioner may place on probation, refuse to
issue or renew, suspend, or revoke the license of any licensee under this chapter, or may
levy a civil penalty in accordance with subsection (c), or any combination of actions, for
any one or more of the following causes: (1) Any cause for which issuance of the license could
have been refused had it then existed and been known to the commissioner. (2) Providing incorrect,
misleading, incomplete, or materially untrue information in any application or in any communication
to the commissioner. (3) Obtaining or attempting to obtain a license through misrepresentation
or fraud. (4) Intentionally misrepresenting the terms of any actual or proposed insurance
contract or application for insurance. (5) Having admitted or been found to have committed
any insurance unfair trade practice or fraud. (6) For inducing, persuading, or advising any
policyholder to surrender or cause to be cancelled any policy of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-19.htm - 4K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-21.htm - 3K - Match Info - Similar pages
27-62-8
Section 27-62-8 Confidentiality. (a)(1) Any documents, materials, or other information in the
control or possession of the department that are furnished by a licensee or an employee or
agent acting on behalf of a licensee pursuant to subsection (i) of Section 27-62-4; subdivisions
(2), (3), (4), (5), (8), (10), and (11) of subsection (b) of Section 27-62-6; or that are
obtained by the commissioner in an investigation or examination pursuant to Section 27-62-7
shall be confidential by law and privileged, shall not be subject to any open records, freedom
of information, sunshine, or other public record disclosure laws, shall not be subject to
subpoena, and shall not be subject to discovery or admissible in evidence in any private civil
action. The commissioner shall not otherwise make the documents, materials, or other information
public without the prior written consent of the licensee. (2) Notwithstanding subdivision
(1), the commissioner may use the documents, materials, or other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-62-8.htm - 4K - Match Info - Similar pages
27-32-30
Section 27-32-30 Claims upon liquidation of insurer - Allowance. (a) No contingent and unliquidated
claim shall share in a distribution of the assets of an insurer which has been adjudicated
to be insolvent by an order made pursuant to this chapter; except, that such claim shall be
considered, if properly presented, and may be allowed to share where: (1) Such claim becomes
absolute against the insurer on or before the last day for filing claims against the assets
of such insurer; or (2) There is a surplus and the liquidation is thereafter conducted upon
the basis that such insurer is solvent. (b) Where an insurer has been so adjudicated to be
insolvent, any person who has a cause of action against an insured of such insurer under a
liability insurance policy issued by such insurer shall have the right to file a claim in
the liquidation proceeding, regardless of the fact that such claim may be contingent, and
such claim may be allowed: (1) If it may be reasonably inferred from the proof...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-30.htm - 2K - Match Info - Similar pages
27-36A-18
Section 27-36A-18 Confidentiality. (a) For purposes of this section, "confidential information"
shall mean all of the following: (1) A memorandum in support of an opinion submitted under
Section 27-36A-4 and any other documents, materials, and other information, including, but
not limited to, all working papers, and copies thereof, created, produced, or obtained by
or disclosed to the commissioner or any other person in connection with such memorandum. (2)
All documents, materials, and other information, including, but not limited to, all working
papers, and copies thereof, created, produced, or obtained by or disclosed to the commissioner
or any other person in the course of an examination made under subsection (f) of Section 27-36A-15;
provided, however, that if an examination report or other material prepared in connection
with an examination made under Chapter 2 is not held as private and confidential information
under Section 27-2-24, an examination report or other material...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-18.htm - 7K - Match Info - Similar pages
27-36A-4
Section 27-36A-4 Actuarial opinion of reserves. (a) Actuarial opinion prior to the operative
date of the valuation manual as defined by Section 27-36A-15. (1) GENERAL. Every life insurance
company doing business in this state shall annually submit the opinion of a qualified actuary
as to whether the reserves and related actuarial items held in support of the policies and
contracts specified by the commissioner by regulation are computed appropriately, are based
on assumptions which satisfy contractual provisions, are consistent with prior reported amounts,
and comply with applicable laws of this state. The commissioner, by regulation, shall define
the specifics of this opinion and add any other items deemed to be necessary to its scope.
(2) ACTUARIAL ANALYSIS OF RESERVES AND ASSETS SUPPORTING RESERVES. a. Every life insurance
company, except as exempted pursuant to regulation, shall also annually include in the opinion
required by subdivision (1) an opinion of the same qualified...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-4.htm - 12K - Match Info - Similar pages
41-22-20
Section 41-22-20 Judicial review of preliminary, procedural, etc., actions or rulings and final
decisions in contested cases. (a) A person who has exhausted all administrative remedies available
within the agency, other than rehearing, and who is aggrieved by a final decision in a contested
case is entitled to judicial review under this chapter. A preliminary, procedural, or intermediate
agency action or ruling is immediately reviewable if review of the final agency decision would
not provide an adequate remedy. (b) All proceedings for review may be instituted by filing
of notice of appeal or review and a cost bond with the agency to cover the reasonable costs
of preparing the transcript of the proceeding under review, unless waived by the agency or
the court on a showing of substantial hardship. A petition shall be filed either in the Circuit
Court of Montgomery County or in the circuit court of the county in which the agency maintains
its headquarters, or unless otherwise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-22-20.htm - 11K - Match Info - Similar pages
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