5-11A-7
Section 5-11A-7 Deposit of security for a operation of trust business - Certificate of deposit; purpose. The State Treasurer shall, from time to time, furnish the company making such deposit with a proper certificate showing the fact of the deposit and containing an exact description of the bonds or other securities deposited. Such deposit is to secure the payment of all liabilities of the company making the deposit as a guardian, administrator, executor, receiver, trustee or other fiduciary under appointment of any court of this state where the company has claimed exemption from giving bond by reason of having this deposit, and all such liabilities shall constitute a first claim on said bonds or other securities deposited as against all other liabilities of said company. (Acts 1980, No. 80-658, §5-11-7.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-11A-7.htm - 1K - Match Info - Similar pages
27-6-10
Section 27-6-10 Power of attorney - New power of attorney. If less than all of the securities or assets covered by any such power of attorney is returned to the insurer or its trustee or agent, the commissioner may require the insurer to deliver to him, as a condition precedent to the return of such power of attorney, a new power of attorney covering the securities and assets not then being withdrawn. The new power of attorney shall be held and exercised under the same restrictions and upon the same conditions as prescribed in this chapter for the original power of attorney. (Acts 1953, No. 727, p. 981, §4; Acts 1971, No. 407, p. 707, §106.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6-10.htm - 960 bytes - Match Info - Similar pages
27-6-13
Section 27-6-13 Sale of surety insurers' special deposit to pay outstanding judgment. (a) If any surety insurer which has made the deposit provided for in Section 27-3-12 fails or refuses to pay any final judgment entered against it upon any bond or undertaking from which no appeal and supersedeas has been taken for 30 days after the entry of such judgment, the clerk or register of the court in which such judgment was entered shall certify a copy thereof to the commissioner, together with the fact that it remains unpaid, and the commissioner shall sell as many of the securities or other assets deposited by such insurer as may be necessary to pay such judgment, and the interest and costs thereon, and to pay to the clerk or register of the court, from the proceeds of the sale, the amount of the judgment, with interest and costs. The commissioner shall sell such securities or other assets at private or public sale, with or without notice, or so many as may be necessary for the best price...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6-13.htm - 1K - Match Info - Similar pages
5-11A-9
Section 5-11A-9 Exemption of trust companies, etc., acting as administrators, etc., from bond requirement. Any trust company or bank which is authorized by law to act as a guardian, administrator, executor, receiver or trustee, except as may be otherwise provided in this code for the administration of the affairs of war veterans, under appointment of any court of this state, and which maintains the deposit provided for in Section 5-11A-5, shall be entitled as a matter of right to exemption from giving bond before receiving authority to act in any of the above capacities, provided its aggregate liabilities, to secure which said bonds or other securities are deposited, do not exceed five times the par value of said securities. When such company desires exemption from giving any such bond, it shall file with the officer who would otherwise require such bonds a sworn statement showing the amount in value of the bonds or other securities on deposit with the State Treasurer, and that the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-11A-9.htm - 1K - Match Info - Similar pages
27-37-1
Section 27-37-1 Assets - Generally. In any determination of the financial condition of an insurer, there shall be allowed as assets only such assets as are owned by the insurer and which consist of: (1) Cash in the possession of the insurer or in transit under its control, and including the true balance of any deposit in a solvent bank or trust company; (2) Investments, securities, properties, and loans acquired, or held, in accordance with this title and in connection therewith the following items: a. Interest due or accrued on any bond or evidence of indebtedness which is not in default and which is not valued on a basis including accrued interest; b. Declared and unpaid dividends on stock and shares, unless such amount has otherwise been allowed as an asset; c. Interest due or accrued upon a collateral loan in an amount not to exceed one year's interest thereon; d. Interest due or accrued on deposits in solvent banks and trust companies, and interest due or accrued on other assets,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-37-1.htm - 4K - Match Info - Similar pages
41-14A-5
Section 41-14A-5 Collateral for public deposits; general provisions. (a) Every qualified public depository shall maintain on deposit with a custodian, to be held subject to the order of the State Treasurer or the State Treasurer's designee (which may be a financial institution designated by the State Treasurer), eligible collateral having a market value equal to or in excess of the amount of collateral required under this section. (b) Each qualified public depository shall be required to pledge collateral, in accordance with procedures established by the board of directors, equal to or exceeding the greater of the following: (1) The generally applicable pledging requirement; and (2) the applicable percentage of the qualified public depository's net average daily balance of public deposits established under rules or orders adopted pursuant to subsection (c) or subsection (d) below. (c) The State Treasurer may, from time to time, in his or her discretion require that certain qualified...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-14A-5.htm - 7K - Match Info - Similar pages
45-36-232.28
Section 45-36-232.28 Release pending trial; conditions; order; notice. (a) Any person in Jackson County charged with an offense, at his or her appearance before a judicial officer, may be ordered released pending trial on his or her personal recognizance or upon the execution of an unsecured appearance bond in an amount specified by the judicial officer, unless the judicial officer determines, in the exercise of his or her discretion, that such a release will not reasonably assure the appearance of the person as required. When such a determination is made, the judicial officer, either in lieu of or in addition to the above methods of release, shall impose the first of the following conditions of release which will reasonably assure the appearance of the person for trial or, if no single condition gives that assurance, any combination of the following conditions: (1) Place the person in the custody of a designated person agreeing to supervise him or her. (2) Place restrictions on the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-36-232.28.htm - 5K - Match Info - Similar pages
45-45-233.28
Section 45-45-233.28 Release pending trial; conditions; order; notice. (a) Any person in Madison County charged with an offense, at his or her appearance before a judicial officer, may be ordered released pending trial on his or her personal recognizance or upon the execution of an unsecured appearance bond in an amount specified by the judicial officer, unless the judicial officer determines, in the exercise of his or her discretion, that such a release will not reasonably assure the appearance of the person as required. When such a determination is made, the judicial officer shall, either in lieu of or in addition to the above methods of release, impose the first of the following conditions of release which will reasonably assure the appearance of the person for trial or, if no single condition gives that assurance, any combination of the following conditions: (1) Place the person in the custody of a designated person agreeing to supervise him or her. (2) Place restrictions on the...
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45-49-235.08
Section 45-49-235.08 Release pending trial; conditions; order; notice. (a) Any person charged with an offense, at his or her appearance before a judicial officer, may be ordered released pending trial on his or her personal recognizance or upon the execution of an unsecured appearance bond in an amount specified by the judicial officer, unless the judicial officer determines, in the exercise of his or her discretion, that such a release will not reasonably assure the required appearance of such person. When such a determination is made, the judicial officer, either in lieu of, or in addition to, the above method of release, shall impose the first of the following conditions of release which will reasonably assure the appearance of the person for trial or, if no single condition gives that assurance, any combination of the following conditions: (1) Place the person in the custody of a designated person who agrees to supervise him or her. (2) Place restrictions on the travel,...
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40-12-398
Section 40-12-398 Bond prerequisite to issuance of license. Before any master dealer license may be issued to a new motor vehicle dealer, used motor vehicle dealer, motor vehicle rebuilder, or motor vehicle wholesaler, the applicant shall deliver to the commissioner a good and sufficient surety bond, executed by the applicant as principal and by a corporate surety company qualified to do business in the state as surety, in the sum of not less than fifty thousand dollars ($50,000) or an amount as prescribed by the department. Such bond shall be in a form to be approved by the commissioner, and shall be conditioned that the motor vehicle dealer, motor vehicle rebuilder, or motor vehicle wholesaler shall comply with the conditions of any contract made by such dealer in connection with the sale or exchange of any motor vehicle and shall not violate any of the provisions of law relating to the conduct of the business for which he or she is licensed. Such bond shall be payable to the...
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