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27-29A-1
Section 27-29A-1 Purpose and scope. (a) The purpose of this chapter is to provide the requirements
for maintaining a risk management framework and completing an Own Risk and Solvency Assessment
(ORSA) and provide guidance and instructions for filing an ORSA Summary Report with the Commissioner
of Insurance. (b) The requirements of this chapter shall apply to all insurers domiciled in
this state unless exempt pursuant to Section 27-29A-6. (c) The Legislature finds and declares
that the ORSA Summary Report will contain confidential and sensitive information related to
an insurer or insurance group's identification of risks material and relevant to the insurer
or insurance group filing the report. This information will include proprietary and trade
secret information that has the potential for harm and competitive disadvantage to the insurer
or insurance group if the information is made public. It is the intent of this Legislature
that the ORSA Summary Report shall be a confidential...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29A-1.htm - 1K - Match Info - Similar pages
27-44-21
Section 27-44-21 Immediate access of associations in this and other states to assets of insolvent
insurer; application to court; contents of proposal; notice. (a) Within 120 days of a final
determination of insolvency of an insurance company by a court of competent jurisdiction the
receiver shall make application to the said court for approval of a proposal to disburse assets
out of such company's marshalled assets, from time to time as such assets become available,
to the Alabama Life and Disability Insurance Guaranty Association and to any entity or person
performing a similar function in another state. (The Alabama Life and Disability Insurance
Guaranty Association and any entity or person performing a similar function in other states
shall hereinafter be referred to collectively as associations.) (b) Such proposal shall at
least include provisions for: (1) Reserving amounts for the payment of expenses of administration
and claims falling within the priorities established in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-21.htm - 3K - Match Info - Similar pages
11-89-32
Section 11-89-32 Procedure to form special corporation. (a) In order to provide for operation
and financing of one or more, but not all, of its authorized services under Chapter 89, Title
11, by following the procedures set out in this article, any district may establish a separate
public corporation and grant to it the power to finance and operate any, but not all, of the
authorized services of the district. If any district may, by its certificate of incorporation,
provide more than one of fire protection service, sewer service, or water service in its service
area, it may provide that any one or more of the services, but not all of them, may be operated
and financed through a special corporation organized pursuant to this article. The procedure
to organize a special corporation is as follows: The board shall adopt a resolution specifying
that it is necessary or expedient that a special corporation be organized pursuant to this
article to operate and finance one or more, but not all,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89-32.htm - 4K - Match Info - Similar pages
41-15-10
Section 41-15-10 Premiums and collected earnings to constitute trust fund; surplus may be invested
in bonds, stocks, mutual funds, etc.; limitations and conditions; requisition for payment
of losses, expenses, etc. All premiums and earnings collected under the provisions of this
chapter shall constitute a trust fund to be applied as authorized in this chapter. With the
approval of the Governor, any surplus in the fund over a necessary working capital, which
shall be determined by the Director of Finance, at not less than $400,000.00, may be invested
in the bonds or other obligations of the United States, of the State of Alabama or of any
agency, institution or instrumentality of the State of Alabama. The Director of Finance shall
also have the authority to invest and reinvest said state insurance trust funds in such classes
of bonds, mortgages, common and preferred stocks, shares of investment companies or mutual
funds or other investments as the Finance Director with the consent of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-15-10.htm - 2K - Match Info - Similar pages
22-8A-4
Section 22-8A-4 Advance Directive for Health Care; living will and health care proxy. (a) Any
competent adult may execute a living will directing the providing, withholding, or withdrawal
of life-sustaining treatment and artificially provided nutrition and hydration. Artificially
provided nutrition and hydration shall not be withdrawn or withheld pursuant to the living
will unless specifically authorized therein. (b) A competent adult may execute at any time
a living will that includes a written health care proxy designation appointing another competent
adult to make decisions regarding the providing, withholding, or withdrawal of life-sustaining
treatment and artificially provided nutrition and hydration. Artificially provided nutrition
and hydration shall not be withdrawn or withheld pursuant to the proxy designation unless
specifically authorized therein. A proxy designation made pursuant to this section shall be
accepted in writing by the individual being appointed. The acceptance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-8A-4.htm - 14K - Match Info - Similar pages
35-11-371
Section 35-11-371 Perfection of lien. (a) For the purposes of this section, the following terms
shall have the following meanings: (1) HEALTH CARE PAYOR. A health care insurer, health maintenance
organization, or health care service plan organized under Article 6, Chapter 20, Title 10A,
authorized to provide health care coverage in the state. (2) SATISFY THE CLAIM. Receipt by
the hospital of either of the following: a. Full payment for services as billed. b. If the
hospital has a contract with the injured person's health care payor, payment together with
all credits, discounts, and contractual adjustments that the patient's bill would be entitled
under the contract, including recoupments, between the hospital and the patient's health care
payor which extinguish the patient's obligation for the services rendered. (b) Unless specifically
contrary to any contractual agreement between the hospital and the injured person's health
care payor or unless contrary to any statute or governmental...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-11-371.htm - 5K - Match Info - Similar pages
38-9B-2
Section 38-9B-2 Definitions. THIS SECTION WAS AMENDED BY ACT 2018-422 IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 31, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. As used in this chapter,
the following words shall have the following meanings: (1) ALABAMA FAMILY CHARITABLE TRUST
(AFT CHARITABLE TRUST). The trust established by the board of trustees that qualifies as a
tax exempt charitable entity under the United States Internal Revenue Code, to provide benefits
for any individual who does not have a sufficient amount in his or her AFT Trust to meet the
individual's needs. (2) ALABAMA FAMILY TRUST (AFT TRUST). The Alabama Family Trust established
pursuant to this chapter. (3) ALABAMA FAMILY TRUST CORPORATION (AFT CORPORATION). An Alabama
not-for-profit corporation established by the board of trustees pursuant to this chapter that
qualifies as a tax exempt charitable organization under the United States Internal Revenue
Code. (4) BOARD OF TRUSTEES. The Alabama Family Trust Board...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/38-9B-2.htm - 3K - Match Info - Similar pages
41-9-351
Section 41-9-351 Commission may provide for insurance for properties and employees. (a) The
commission may provide insurance covering loss or damage to its properties or any properties
of others in its custody, care, or control or any properties as to which it has any insurable
interest caused by fire or other casualty and may likewise provide insurance for the payment
of damages on account of the injury or death of persons and the loss or destruction of properties
of others, and may pay the premiums out of the revenues of the commission. Nothing in this
section shall be construed to authorize or permit the institution of any civil action or proceeding
in any court against the commission for or on account of any matter referred to in this section.
Any contracts of insurance authorized by this section may, in the discretion of the chair
of the commission, provide for a direct right of action against the insurance carrier for
the enforcement of any claims or causes of action. (b) The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-351.htm - 3K - 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
27-2B-3
Section 27-2B-3 Preparation and submission of RBC report; formulas; desirability of excess
capital; adjustment of inaccurate RBC report. (a) Every domestic insurer shall, on or prior
to each March 1 (the "filing date"), prepare and submit to the commissioner a report
of its RBC levels as of the end of the calendar year just ended, in a form and containing
information as is required by the RBC instructions. In addition, every domestic insurer shall
file its RBC report with: (1) The NAIC according to the RBC instructions. (2) The insurance
commissioner in any state in which the insurer is authorized to do business, if the insurance
commissioner has notified the insurer of its request in writing, in which case the insurer
shall file its RBC report not later than the later of either of the following: a. Fifteen
days from the receipt of notice to file its RBC report with that state. b. The filing date.
(b) A life and health insurer's and a fraternal benefit society's RBC shall be determined...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-2B-3.htm - 3K - Match Info - Similar pages
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