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
11-49B-7
Section 11-49B-7 Powers of authority. The authority shall exercise, subject to this chapter, the following powers and duties necessary to the discharge of its powers and duties in corporate form: (1) To have succession by its corporate name for the duration of time, which may be perpetual, subject to the provisions of Section 11-49B-19 specified in its certificate of incorporation. (2) To sue and be sued in its own name in civil suits and actions and to defend suits against it. (3) To adopt and make use of a corporate seal and to alter the seal at pleasure. (4) To adopt and alter bylaws for the regulation and conduct of its affairs and business. (5) To acquire, receive, and take, by purchase, gift, lease, devise, or otherwise, and to hold property of every description, real, personal, or mixed, whether located in one or more counties or municipalities and whether located within or outside the authorizing county. (6) To make, enter into, and execute contracts, agreements, leases, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-49B-7.htm - 10K - Match Info - Similar pages
19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions to the trust property from a settlor or any other person, including, but not being limited to, the authority to receive, collect, hold, and retain common or preferred stock or other interests in the trustee or any related party; (2) acquire or sell property, for cash or on credit, at public or private sale; (3) exchange, partition, or otherwise change the character of trust property; (4) deposit trust money in an account in a regulated financial-service institution; (5) borrow money, with or without security, and mortgage or pledge trust property for a period within or extending beyond the duration of the trust; (6) with respect to an interest in a proprietorship, partnership, limited liability company, business trust, corporation, or other form of business or enterprise, continue the business or other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-816.htm - 10K - Match Info - Similar pages
33-15-6
Section 33-15-6 Powers, duties and functions generally. The general powers, duties and functions of the authority shall be as follows: (1) GENERAL. The authority: a. Shall have perpetual succession in its corporate name; b. May bring civil actions and have civil actions brought against it in its corporate name; c. May adopt, use, and alter a corporate seal, which shall be judicially noticed; d. May enter into such contracts and cooperative agreements with federal, state and local governments, with agencies of such governments and with private individuals, corporations, associations and other organizations, including the Bear Creek Watershed Association, Inc., whether organized under the laws of Alabama or of another state, as the board may deem necessary or convenient to enable it to carry out the purposes of this article, which authorization shall include without limitation contracts and cooperative arrangements with any of the several states and with counties and municipalities in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-15-6.htm - 9K - Match Info - Similar pages
15-22-1.1
Section 15-22-1.1 Interstate Compact for Adult Offender Supervision. Whereas: The Interstate Compact for the Supervision of Parolees and Probationers was established in 1937, it is the earliest corrections "compact" established among the states and has not been amended since its adoption over 62 years ago; Whereas: This compact is the only vehicle for the controlled movement of adult parolees and probationers across state lines, and it currently has jurisdiction over more than a quarter of a million offenders; Whereas: The complexities of the compact have become more difficult to administer, and many jurisdictions have expanded supervision expectations to include currently unregulated practices such as victim input, victim notification requirements, and sex offender registration; Whereas: After hearings, national surveys, and a detailed study by a task force appointed by the National Institute of Corrections, the overwhelming recommendation has been to amend the document to bring about...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/15-22-1.1.htm - 43K - Match Info - Similar pages
39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used in this section the following words shall have the meanings ascribed to them as follows: (1) CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited liability company, cooperative, or other legal entity licensed by the Alabama State Licensing Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a. organized and existing under the laws of the State of Alabama, nor b. maintains its principal place of business in the State of Alabama. A nonresident contractor which has maintained a permanent branch office within the State of Alabama for at least five continuous years shall not thereafter be deemed to be a nonresident contractor so long as the contractor continues to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor which has been retained by the awarding authority conditioned on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-2-12.htm - 18K - Match Info - Similar pages
27-25-4.8
Section 27-25-4.8 Implementation. (a) The commissioner, by rule pursuant to Chapter 2, may provide for the implementation of the requirements of this chapter. (b) Each title insurance agent certificate of authority in force prior to January 1, 2013, shall be issued a replacement title insurance agent license and appointment upon payment of the annual fee in the amount set forth in Section 27-25-4 prior to January 1, 2013. A replacement title insurance agent shall be authorized to continue to issue title insurance policies in the same manner as permitted in Section 27-25-4 prior to January 1, 2013. (c) A replacement title insurance agent license issued in accordance with subsection (b) shall be valid for six months, during which time the person shall satisfy the requirements for a title insurance agent license pursuant to Sections 27-25-4.1 and 27-25-4.3 or the replacement license shall thereupon expire and be canceled. The appointment issued in accordance with subsection (b) shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-25-4.8.htm - 2K - Match Info - Similar pages
27-25-4.5
Section 27-25-4.5 License denial, non-renewal, or revocation. (a) The commissioner may place on probation, suspend, revoke, or refuse to issue or renew the license of a title insurance agent or may levy a civil penalty pursuant to subsection (d), or any combination of these actions, for any one or more of the following causes: (1) Providing incorrect, misleading, incomplete, or materially untrue information in the license application. (2) Violating any insurance laws, rules, subpoena, or order of the commissioner. (3) Obtaining or attempting to obtain a license through misrepresentation or fraud. (4) Improperly withholding, misappropriating, or converting any monies or properties received in the course of acting as a title insurance agent or in otherwise doing insurance business in this state or elsewhere. (5) Intentionally misrepresenting the terms of an actual title insurance contract. (6) Having been convicted of a felony. (7) Having admitted or been found to have committed any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-25-4.5.htm - 3K - Match Info - Similar pages
27-25-4.3
Section 27-25-4.3 Prelicensing course and examination. (a)(1) Every individual subject to the examination required in subsection (b) shall first complete a prelicensing course consisting of 20 classroom hours or equivalent individual instruction on the general principles of title insurance, the duties and responsibilities of a title insurance agent, and the title insurance laws and regulations of this state. The course shall be taught only by those educational institutions, title insurers, or title insurance trade organizations which hold written authority from the commissioner. (2) The prelicensing course must have been completed within 12 months before the date of the examination as shown on the certificate furnished by the prelicensing course provider. (3) Every prelicensing course provider shall apply annually for the continued authority to issue certificates of completion under rules and regulations to be prescribed by the commissioner. (4) At the time of initial approval and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-25-4.3.htm - 4K - Match Info - Similar pages
27-36-1
Section 27-36-1 Liabilities generally. In any determination of the financial condition of an insurer, capital stock and liabilities to be charged against its assets shall include: (1) The amount of its capital stock outstanding, if any; (2) The amount, estimated consistent with the provisions of this title, necessary to pay all of its unpaid losses and claims incurred on or prior to the date of statement, whether reported or unreported, together with the expenses of adjustment or settlement thereof; (3) With reference to life and disability insurance and annuity contracts: a. The amount of reserves on life insurance policies and annuity contracts in force, valued according to the tables of mortality, rates of interest, and methods adopted pursuant to this title which are applicable thereto; b. Reserves for disability benefits, for both active and disabled lives; c. Reserves for accidental death benefits; and d. Any additional reserves which may be required by the commissioner...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36-1.htm - 2K - Match Info - Similar pages
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