|
27-15-78
Section 27-15-78 Calculations of adjusted premiums by the nonforfeiture net level premium method.
(a) This section shall apply to all policies issued on or after the operative date of this
section as defined herein. Except as provided in subsection (g), the adjusted premiums for
any policy shall be calculated on an annual basis and shall be such uniform percentage of
the respective premiums specified in the policy for each policy year, excluding extra premiums
on a substandard policy and also excluding any uniform annual contract charge or policy fee
specified in the policy in a statement of the method to be used in calculating the cash surrender
values and paid-up nonforfeiture benefits, that the present value, at the date of issue of
the policy, of all adjusted premiums shall be equal to the sum of: (1) The then present value
of the future guaranteed benefits provided for by the policy. (2) One percent of either the
amount of insurance, if the insurance be uniform in amount, or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-78.htm - 12K - Match Info - Similar pages
27-41-5
Section 27-41-5 Authorization of investments by board of directors, etc. An insurer shall not
make any investment or loan exceeding 10 percent of the admitted assets of the insurer, other
than loans on policies or annuity contracts, unless authorized, approved, or ratified by the
board of directors of the insurer or by the committee or person as the board of directors
shall expressly authorize. The action of the board of directors, the committee, or other persons
so authorized shall be recorded and regular reports thereof shall be submitted to the board
of directors. This requisite shall not apply to funeral supplies authorized for mutual aid
associations under Section 27-41-38 which are purchased in the regular course of business
under the general supervision of the association's board of directors. (Acts 1977, No. 408,
p. 530, §5; Act 2012-370, p. 921, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-5.htm - 1K - Match Info - Similar pages
11-98-5.2
Section 11-98-5.2 911 Fund. (a) Effective October 1, 2013, the 911 Fund shall be created as
an insured interest-bearing account into which the 911 Board shall deposit all revenues derived
from the service charge levied on voice communications service providers under this chapter
and all prepaid wireless 911 charges received from the department. The revenues deposited
into the 911 Fund shall not be monies or property of the state and shall not be subject to
appropriation by the Legislature. The 911 Board shall administer the fund and shall credit
the 911 Fund all revenues received. The fund and revenues generated by the fund may only be
used as provided in this chapter. (b) Effective October 1, 2013, there shall first be deducted,
no more than one time during each calendar month, from the total amount of the statewide 911
charges paid over to the 911 Board during such month, a sum not to exceed one percent of the
total amount, to be applied by the 911 Board exclusively for payment of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-98-5.2.htm - 11K - Match Info - Similar pages
36-17-3
Section 36-17-3 Duties generally. The powers, functions, and duties of the Treasurer shall
be: (1) To receive all moneys due the state and deposit them in the proper accounts. (2) To
perform the functions and duties now authorized by law with respect to state depositaries.
(3) To pay all warrants duly executed by the Comptroller, and to pay for funds electronically
transferred by the Comptroller in accordance with Section 41-4-50, upon the determination
that there is sufficient money for the payment thereof in the fund upon which they are drawn.
No warrant executed by any other person shall be honored. All checks drawn on the state funds
shall be signed by the Treasurer, or the chief clerk in the office, and countersigned by the
special assistant in the office of the Treasurer, who is appointed by the Treasurer with the
approval of the Governor. Another employee may be designated by the Treasurer, with the approval
of the Governor, to countersign checks in the absence of the special...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-17-3.htm - 7K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-8.htm - 14K - Match Info - Similar pages
41-10-754
Section 41-10-754 Powers of the authority. The authority shall have, in addition to all other
powers granted to it in this article, all of the following powers: (1) To have succession
by its corporate name until dissolved as herein provided. (2) To institute and defend legal
proceedings in any court of competent jurisdiction and proper venue; provided, however, that
the authority may not be sued in any nisi prius court other than the courts of the county
in which is located the principal office of the authority; and provided further that the officers,
directors, agents, and employees of the authority may not be sued for actions on behalf of
the authority in any nisi prius court other than the courts of the county in which is located
the principal office of the authority. (3) To have and to use a corporate seal and to alter
the seal at pleasure. (4) To establish a fiscal year. (5) To adopt, and from time to time,
amend and repeal, bylaws, rules, and regulations not inconsistent with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-754.htm - 5K - Match Info - Similar pages
45-27-245.33
Section 45-27-245.33 Disposition of funds. The proceeds of the revenue accruing from the additional
privilege and license tax, consumers' use tax, and sellers' use tax levied by Section 45-27-245.31
shall be distributed and used as follows: (1) Thirty percent of the net proceeds collected
shall be distributed to the duly recognized volunteer fire departments or rescue squads, or
both, in the unincorporated areas of the county. Only volunteer fire departments properly
certified by the Alabama Forestry Commission and members of the Escambia County Volunteer
Fire Departments Association shall be eligible to receive the proceeds and use them as follows:
a. Each eligible department shall receive an equal portion of the proceeds. Each department
in the Escambia County Volunteer Fire Departments Association shall send one voting delegate
to a meeting of the association to be held no later than 30 days after May 1, 2004, to vote
on whether the member departments shall provide financial support...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-27-245.33.htm - 3K - Match Info - Similar pages
40-18-1
Section 40-18-1 Definitions. For the purpose of this chapter, the following terms shall have
the respective meanings ascribed by this section: (1) ADVANCED FOSSIL-BASED GENERATION. The
production of electricity from fossil-based generation with the use of technology or efficiency
improvements to control or reduce carbon emissions, including but not limited to, technologies
described in 26 U.S.C. § 48A(f), as such provision existed on December 31, 2007. (2) ALTERNATIVE
ENERGY RESOURCES. Coal gasification or liquefaction, nuclear, and advanced fossil-based generation.
(3) BIOMASS. Animals and plants, and the waste, by-products, or derivatives of either, including,
but not limited to, the materials described in 26 U.S.C. §§ 45(c)(2), 45(c)(3), 45K(c)(3),
or 48B(c)(4). (4) BUSINESS TRUST. Any entity which is a business trust for federal income
tax purposes. (5) CAPTIVE REIT. Any REIT whose shares or certificates of beneficial interest
are not regularly traded on an established...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-1.htm - 11K - Match Info - Similar pages
45-9-243.40
Section 45-9-243.40 Privilege or license tax. (a) The following words, terms, and phrases,
when used in this section, shall have the meanings ascribed to them in this subsection, except
where the context clearly indicates a different meaning: (1) PERSON. Any natural person, firm,
partnership, association, corporation, receiver, trust, estate, or other entity, or any other
group or combination of any thereof acting as a unit. (2) COUNTY. Chambers County, Alabama.
(3) BUSINESS. All activities engaged in, or caused to be engaged in, by any person with the
object of gain, profit, benefit, or advantage, either direct or indirect to such person. (4)
GROSS PROCEEDS. The value proceeding or accruing from the leasing or rental of tangible personal
property, without any deduction on account of the cost of the property so leased or rented,
the cost of materials used, labor, or service cost, interest paid or any other expenses whatsoever,
and without any deduction on account of loss and shall also...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-9-243.40.htm - 13K - Match Info - Similar pages
27-29-5
Section 27-29-5 Transactions of insurers with affiliates; adequacy of surplus; dividends and
other distributions. (a) Transactions within an insurance holding company system to which
an insurer subject to registration is a party shall be subject to all of the following standards:
(1) The terms shall be fair and reasonable. (2) Agreements for cost sharing services and management
shall include such provisions as required by rule and regulation issued by the commissioner.
(3) Charges or fees for services performed shall be reasonable. (4) Expenses incurred and
payment received shall be allocated to the insurer in conformity with customary insurance
accounting practices consistently applied. (5) The books, accounts, and records of each party
to all such transactions shall be so maintained as to clearly and accurately disclose the
nature and details of the transactions including such accounting information as is necessary
to support the reasonableness of the charges or fees to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-5.htm - 11K - Match Info - Similar pages
|