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2-17-24
Section 2-17-24 Conduct of investigations and requirement of reports as to organization, business,
practices, etc., of persons, firms, etc., engaged in intrastate commerce by commissioner;
access to copying, etc., of documentary evidence; powers of commissioner as to witnesses generally;
issuance of subpoenas and orders for taking of depositions; enforcement of subpoenas and orders
of commissioner, etc., generally; fees of witnesses, etc.; witnesses not to be excused from
testifying on grounds of self-incrimination; immunity from prosecution of witnesses as to
matters, etc., upon which compelled to testify. (a) The commissioner shall also have power:
(1) To gather and compile information concerning and to investigate from time to time the
organization, business, conduct, practices and management of any person, firm or corporation
engaged in intrastate commerce and the relation thereof to other persons, firms and corporations;
(2) To require, by general or special order, persons, firms...
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27-11-2
Section 27-11-2 Prohibition against transaction of insurance business, etc., in state without
license; exceptions. It shall be unlawful for any insurer to transact the business of insurance
in this state or to enter into a contract for insurance in this state without first obtaining
a license or certificate of authority from the commissioner. This unauthorized insurers law
shall not apply to: (1) Contracts of insurance procured pursuant to the surplus line insurance
law; (2) Transactions in this state involving contracts of insurance lawfully entered into,
written and the policy delivered outside of this state covering subjects of insurance not
resident, located or expressly to be performed in this state at the time of issuance and transactions
subsequent to the making of such contract and the issuance of such policy; (3) Reinsurance
contracts; (4) Transactions in this state involving group or blanket insurance and group annuities
where the master policy or contract was lawfully issued...
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27-62-9
Section 27-62-9 Exceptions. (a) The following exceptions shall apply to this chapter: (1) A
licensee is exempt from Section 27-62-4 if any of the following criteria apply: a. The licensee
has fewer than 25 employees. b. The licensee has less than $5 million in gross annual revenue.
c. The license has less than $10 million in year-end total assets. (2) A licensee subject
to Pub.L. 104-191, 110 Stat. 1936, enacted August 21, 1996 (Health Insurance Portability and
Accountability Act), that has established and maintains an information security program pursuant
to the statutes, rules, regulations, procedures, or guidelines established thereunder, shall
be considered to meet the requirements of this chapter, provided that licensee is compliant
with and submits a written statement certifying its compliance with Pub. L. 104-191. (3) An
employee, agent, representative, or designee of a licensee who is also a licensee is exempt
from this chapter and is not required to develop its own information...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-62-9.htm - 2K - Match Info - Similar pages
40-14B-8
Section 40-14B-8 Report upon receipt of certified capital; annual report; financial statement.
(a) Each certified capital company shall report to the Alabama Development Office as soon
as practicable after the receipt of certified capital the following: (1) The name of each
certified investor from whom the certified capital was received, including the certified investor's
insurance premium tax identification number. (2) The amount of each certified investor's investment
of certified capital and premium tax credits. (3) The date on which the certified capital
was received. (b) Not later than January 31 of each year, each certified capital company shall
report to the Alabama Development Office all of the following: (1) The amount of the company's
certified capital at the end of the preceding year. (2) Whether or not the company has invested
more than 15 percent of its total certified capital in any one business. (3) Each qualified
investment that the company made during the preceding...
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8-6-6
Section 8-6-6 Registration of securities - Registration of certain securities by coordination.
(a) Any security for which a registration statement has been filed under the Securities Act
of 1933 in connection with the same offering may be registered by coordination. (b) A registration
statement under this section shall contain the following information and be accompanied by
the following documents, in addition to payment of the registration fee prescribed in Section
8-6-8: (1) Two copies of the prospectus filed under the Securities Act of 1933, together with
all amendments thereto; (2) If the Securities Commission requests, any other information or
copies of any other documents filed under the Securities Act of 1933; (3) The amount of securities
to be offered in this state; (4) The states in which a registration statement or similar document
in connection with the offering has been or is expected to be filed; (5) Any adverse order
or judgment previously entered in connection with the...
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27-13-28
Section 27-13-28 Annual statistical reports of insurers. Every insurer shall file annually,
on or before July 1, with the rating organization of which it is a member or subscriber, or
with such other common agency representing a group of insurers as the department may approve,
and with the department a statistical report showing a classification schedule of its premiums
and its losses on all kinds of insurance to which this article is applicable, together with
such other information as the department may deem necessary for the proper determination of
the reasonableness and adequacy of rates. Such statistical report filed with the rating organization
may be consolidated and filed by such common agency. Such data shall be kept and reports made
in such manner and on such forms as may be prescribed by the commissioner. All such annual
filings with the department shall be kept under lock and key, and any official or employee
of the department who shall divulge the contents or permit the...
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27-27-29
Section 27-27-29 Principal place of business and home office of domestic insurers; maintenance
of assets in state; removal of records or assets; exceptions. (a) Every domestic insurer shall
have, and maintain, its principal place of business and home office in this state and shall
keep in this state complete records of its assets, transactions, and affairs in accordance
with such methods and systems as are customary or suitable as to the kind, or kinds, of insurance
transacted. (b) Every domestic insurer shall have, and maintain, its assets in this state,
or in a financial institution conducting business in this state except as to: (1) Real property
and personal property appurtenant to the real property lawfully owned by the insurer and located
outside this state. (2) The property of the insurer as may be customary, necessary, and convenient
to enable and facilitate the operation of its branch offices and regional home offices located
outside this state as referred to in subsection...
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27-3-16
Section 27-3-16 Lloyd's insurers. Aggregations of individuals as underwriters, whether domestic,
foreign, or alien, assuming insurance risks upon the plan known as "Lloyd's," whereby
each underwriter is liable for the proportionate part assumed by him of the whole amount so
insured by a policy issued by such underwriters, may be authorized to transact any kind, or
kinds, of insurance in this state other than life or title insurances if the insurer is otherwise
in compliance with this title, subject to the following conditions: (1) If a foreign or alien
insurer, it must have successfully been in business as an authorized insurer in the state
or country of domicile for at least 10 years. (2) If a domestic insurer, it must file with
the commissioner evidence, satisfactory to him, that it has been soundly organized and that
its insurance operations will, at all times, be competently conducted by individuals having
the necessary experience in insurance underwriting and management to do so,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-16.htm - 2K - 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...
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27-44-11
Section 27-44-11 Duties and powers of commissioner; appeal and review; notification. In addition
to the duties and powers enumerated elsewhere in this chapter: (1) The commissioner shall:
a. Upon request of the board of directors, provide the association with a statement of the
premiums in the appropriate states for each member insurer. b. When an impairment is declared
and the amount of the impairment is determined, serve a demand upon the impaired insurer to
make good the impairment within a reasonable time. Notice to the impaired insurer shall constitute
notice to its shareholders, if any. The failure of the insurer to promptly comply with such
demand shall not excuse the association from the performance of its powers and duties under
this chapter. c. In any liquidation or rehabilitation proceeding involving a domestic insurer,
petition the court of competent jurisdiction to have the chief of the receivership division
appointed as the liquidator or rehabilitator. If a foreign or...
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