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27-12-12
Section 27-12-12 Life, annuity, and disability insurance - Agreements not expressed in contract,
rebates, and other inducements. (a) No person shall knowingly permit or offer to make, or
make, any contract of life insurance, annuity or disability insurance or agreement as to such
contract other than as plainly expressed in the contract issued thereon, or pay or allow,
or give or offer to pay, allow or give, directly or indirectly, as an inducement to such insurance
or annuity any rebate of premiums payable on the contract, or any special favor or advantage
in the dividends or other benefits thereon, or any paid employment or contract for services
of any kind, or any valuable consideration or inducement whatever not specified in the contract,
or, directly or indirectly, give, or sell, or purchase, or offer, or agree to give, sell,
purchase, or allow as inducement to such insurance or annuity or in connection therewith,
and whether or not to be specified in the policy or contract, any...
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27-35-4
Section 27-35-4 Conversion into stock or mutual life insurance company - Ratification or amendment
of articles of incorporation - Generally. Pursuant to the notice provided for in Section 27-35-3,
the supreme governing or legislative body shall adopt a resolution authorizing the conversion
of the society into a stock or mutual insurer, as the case may be, and shall ratify articles
of incorporation, if the society is then unincorporated, or amend the society's articles of
incorporation if it is then incorporated, to comply with the requirements of this title. (Acts
1927, No. 537, p. 624; Acts 1971, No. 407, p. 707, §730.)...
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27-56-5
Section 27-56-5 Third-party payment. (a) No insurance policy, plan, or contract providing for
third-party payment or prepayment of health or medical expenses that provides coverage for
eye care services shall be issued or renewed after August 1, 2001, unless such insurance policy,
plan, or contract does the following: (1) Provides a covered person direct access to any eye
care provider participating in, or otherwise eligible to provide services under, the policy,
plan, or contract for all eye care services covered under the policy, plan, or contract, without
any referral or preapproval requirement, including, but not limited to, the following services,
if covered: a. Medical treatment of glaucoma. b. Postoperative eye care. (2) Ensures that
any list of medical or health care providers participating in, or otherwise eligible to provide
services under, the policy, plan, or contract includes eye care providers to the same extent
that such list includes other medical or health care...
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5-19-17
Section 5-19-17 Inducing obligation on more than one contract in order to obtain higher finance
charge prohibited; consolidation of existing precomputed consumer credit transaction contract
and subsequent precomputed consumer credit transaction. (a) No creditor shall induce or permit
any person or any husband and wife, jointly or severally, to become obligated directly or
contingently, or both, on more than one consumer credit transaction at the same time for the
purpose of obtaining a higher finance charge than would otherwise be permitted by Section
5-19-3. This subsection shall not apply to the maintenance of two or more separate consumer
credit transactions where the consumer credit transactions were created on different dates.
(b) It shall be unlawful for any seller to evade or attempt to evade this section by inducing
a buyer to become obligated to another creditor in which the initial creditor has a pecuniary
interest or with whom the initial creditor has an arrangement for...
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2-10-99
Section 2-10-99 Powers of association. An association incorporated under this article shall
have the power to: (1) Contract and be contracted with; (2) Borrow and lend money; (3) Issue
notes, bonds and other obligations and secure the payment of the same by mortgage or otherwise;
(4) Buy, contract for, own, sell, convey, pledge, mortgage and otherwise have, use and dispose
of property of all kinds, insofar as not prohibited by law; (5) Promote and carry out the
purpose of this article to market the agricultural products of its members, cooperatively
in pools or otherwise and collect for the same; (6) Purchase such products from its members;
(7) Advance money upon such products to its members; (8) Act as agents for its members; (9)
Process, condition, pack, store and otherwise safeguard, care for and make ready for market
the agricultural products of its members; (10) Purchase for and distribute to its members
and purchase and sell to its members seed, plants, fertilizers, machinery,...
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27-40-12
Section 27-40-12 Return of gross unearned premiums upon cancellation of contract. (a) Whenever
a financed insurance contract is cancelled, the insurer shall return whatever gross unearned
premiums are due under the insurance contract to the premium finance company, either directly
or via the agent or surplus lines broker placing the insurance, for the account of the insured
or insureds as soon as reasonably possible, but in any event no later than 30 days after the
effective date of cancellation. (b) In the event that the crediting of return premiums to
the account of the insured results in a surplus over the amount due from the insured, the
premium finance company shall refund the excess to the insured or the agent or surplus lines
broker, within 30 days after receipt by the premium finance company with the check or draft
made payable to the agent or surplus lines broker and to the insured, provided that no refund
shall be required if it amounts to less than one dollar ($1). (Acts...
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11-91-5
Section 11-91-5 Return of premiums. In the event there is a return of premium by any insurance
company under any such insurance contract, such return shall be made to the governing body
paying such premium. (Acts 1947, No. 376, p. 267, §5.)...
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27-14-8
Section 27-14-8 Forms - Filing and approval or disapproval. (a) No basic insurance policy or
annuity contract form or application form where written application is required and is to
be made a part of the policy, or contract, or printed rider, or endorsement form or form of
renewal certificate shall be delivered or issued for delivery in this state unless the form
has been filed with, and approved by, the commissioner. This subsection shall not apply to
surety bonds or to specially rated inland marine risks, nor to policies, riders, endorsements,
or forms of unique character designed for, and used with, relation to insurance upon a particular
subject or which relate to the manner of distribution of benefits or to the reservation of
rights and benefits under life or disability insurance policies and are used at the request
or with the consent of the individual policyholder, contract holder, or certificate holder.
As to group insurance policies effectuated and delivered outside this...
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27-40-1
Section 27-40-1 Definitions. For the purposes of this chapter, the following words and phrases
shall have the following meanings: (1) INSURANCE PREMIUM FINANCE COMPANY. A person engaged
in the business of entering into premium finance agreements. (2) PREMIUM FINANCE AGREEMENT.
An agreement by which an insured or prospective insured promises to pay to a premium finance
company the amount advanced or to be advanced under the agreement to an insurer or to an insurance
agent or broker in payment of premiums on an insurance contract together with a service charge,
as authorized and limited by this chapter, and charges for wind mitigation construction financing,
as approved by the commissioner. (3) LICENSEE. A premium finance company holding a license
issued under this chapter. (4) PERSON. An individual, partnership, association, business corporation,
nonprofit corporation, common law trust, joint-stock company, or any other group of individuals
however organized. (5) INSURANCE CONTRACT. The...
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27-40-2
Section 27-40-2 Exemptions from chapter. The provisions of this chapter shall not apply with
respect to any of the following: (1) Any insurance company licensed to do business in this
state. (2) Any banking or other financial institution regulated by the state, or savings and
loan association, or credit union authorized to do business in this state, or any national
banking institution or federal savings and loan association incorporated under the laws of
the United States and located within this state. (3) A charge for insurance in connection
with an installment sale of a motor vehicle or boat or mobile home. (4) The financing of insurance
premiums in this state in accordance with the provisions of this title relating to rates of
insurance. (5) Any insurance agent or agency licensed in Alabama that charges a collection
fee on unpaid balances for insurance premiums under Section 27-12-17 or under the Alabama
Consumer Credit Act. (Acts 1975, No. 1042, p. 2088, §1; Acts 1994, No. 94-118,...
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