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27-18-2
Section 27-18-2 Policy provisions - Generally. No policy of group life insurance shall be delivered
in this state unless it contains in substance the applicable provisions set forth in Sections
27-18-3 through 27-18-13, or provisions which in the opinion of the commissioner are more
favorable to the persons insured or at least as favorable to the persons insured and more
favorable to the policyholder; except, however, that: (1) Sections 27-18-9 and 27-18-13 inclusive
shall not apply to policies issued to a creditor to insure debtors of such creditor; (2) The
standard provisions required for individual life insurance policies shall not apply to group
life insurance policies; and (3) If the group life insurance policy is on a plan of insurance
other than the term plan, it shall contain a nonforfeiture provision, or provisions, which,
in the opinion of the commissioner, is, or are, equitable to the insured persons and to the
policyholder, but nothing in this section shall be construed to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-18-2.htm - 1K - Match Info - Similar pages
27-40-3
Section 27-40-3 Licenses - Required; fees; information to be furnished commissioner. (a) No
person shall engage in the business of financing insurance premiums in this state without
first having obtained a license as a premium finance company from the commissioner. Any person
who shall engage in the business of financing insurance premiums in this state without first
having obtained a license as provided herein shall be guilty of a misdemeanor and upon conviction
shall be punished by a fine of not more than $1,000.00 or by imprisonment for not more than
one year, or both. (b) The annual license fee shall be $200.00; provided, that an insurance
agency which finances its own business of less than $150,000.00 in premiums annually shall
pay a fee of $50.00. The fee for said license shall be paid into the Insurance Department
Examination Revolving Fund and the same is hereby appropriated for that use. (c) The person
to whom the license or the renewal thereof may be issued shall file sworn...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-40-3.htm - 1K - Match Info - Similar pages
27-31A-5
Section 27-31A-5 Compulsory associations. (a) No risk retention group shall be required or
permitted to join or contribute financially to any insurance insolvency guaranty fund, or
similar mechanism, in this state, nor shall any risk retention group, or its insureds, or
claimants against its insureds, receive any benefit from any fund for claims arising under
the insurance policies issued by that risk retention group. (b) When a purchasing group obtains
insurance covering its members' risks from an insurer, not authorized in this state or a risk
retention group, no risk, wherever resident or located, shall be covered by any insurance
guaranty fund or similar mechanism in this state. (c) When a purchasing group obtains insurance
covering its members' risks from an authorized insurer, only risks resident or located in
this state shall be covered by the Alabama Insurance Guaranty Association, subject to Chapter
42 (commencing with Section 27-42-1), Title 27. (d) Notwithstanding Article 2...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31A-5.htm - 1K - Match Info - Similar pages
27-22-23
Section 27-22-23 Submission of information and compilation of aggregate totals. Commencing
on October 1, 2013, each insurance company authorized to transact homeowners insurance business
in this state shall provide the information required pursuant to subsection (a) of Section
27-22-21, commencing with the calendar year 2007. Voluntary submissions of the information
required by subsection (a) of Section 27-22-21 for calendar years prior to 2007, may be submitted
and shall be compiled and posted by the department in the same manner. Based upon the submitted
information, the department shall compile aggregate totals, commencing with 2007, and post
those aggregate totals on the department website pursuant to subsection (b) of Section 27-22-21.
(Act 2012-373, p. 932, ยง4.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-22-23.htm - 1K - Match Info - Similar pages
36-29-6
Section 36-29-6 Authorization and execution of contracts; documentation of benefits. (a) The
board is hereby authorized to execute a contract or contracts to provide the plan determined
in accordance with the provisions of this chapter. Such contract or contracts may be executed
with one or more agencies or corporations licensed to transact or administer group health
insurance business in this state. All of the benefits to be provided under this chapter may
be included in one or more similar contracts issued by the same or different companies. (b)
Before entering into any contract or contracts authorized by subsection (a) of this section,
the board shall invite competitive bids from all qualified entities who may wish to administer
or offer plans for the health insurance coverage desired. The board shall award such contract
or contracts on a competitive basis as determined by the benefits afforded, administrative
costs, the costs to be incurred by employee, retiree, and employer, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-29-6.htm - 3K - Match Info - Similar pages
22-21-361
Section 22-21-361 Definitions. The following terms shall have the meanings respectively ascribed
by this section unless the context clearly indicates otherwise: (1) COMMISSIONER. The commissioner
of insurance of this state. (2) DENTAL SERVICE PLAN or PLAN. Any plan or other arrangement
whereby dental services are provided in whole or in part through a dental service corporation
by dentists participating in the plan to provide dental services to those members of the public
who become subscribers to the plan under a contract with such corporation. The terms "dental
service plan" or "plan" do not include an insurer authorized by the insurance
department to transact insurance in this state or to a nonprofit health insurance plan organized
pursuant to Section 10-4-100, or to any policy of insurance or contract which includes dental
benefits issued by such insurer or nonprofit health insurance plan. (3) DEPARTMENT. The Department
of Insurance. (4) LICENSE. The certificate of authority issued...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-361.htm - 1K - Match Info - Similar pages
27-10-35
Section 27-10-35 Report of, and tax on, independently procured coverages; exceptions. (a) Anyone
who may desire to place his insurance in a foreign insurer not authorized to do business in
this state may place such insurance, and any insured who in this state procures, or causes
to be procured, or continues or renews insurance in an unauthorized foreign insurer or any
self-insurer who in this state so procures or continues excess loss, catastrophe, or other
insurance, upon a subject of insurance resident, located or to be performed within this state,
other than insurance procured through a surplus line broker pursuant to the surplus lines
law of this state or exempted from such law under Section 27-10-34 shall, within 90 days after
the date such insurance was so procured, continued, or renewed, file a written report of the
same with the commissioner on forms designated by the commissioner and furnished to such an
insured upon request. The report shall show the name and address of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-35.htm - 3K - Match Info - Similar pages
27-11-5
Section 27-11-5 Secretary of State as agent for service of process on insurer; service of process;
attachment of jurisdiction; fees for service. (a) Any insurer not qualified under the laws
of this state to transact the business of insurance as evidenced by a license or certificate
of authority from the Commissioner of Insurance which shall transact, or attempt to transact,
the business of insurance in this state or which shall do, or attempt to do, any of the acts
and occurrences set out in Section 27-11-3 shall, by the doing of such business or the performing
or attempting to perform any of such acts, be deemed to have appointed the Secretary of State,
or his successor or successors in office, to be the true and lawful attorney or agent of such
insurer whom process may be served in any action accrued or accruing from the transacting
of such business or the performing of such act by any such insurer, or by its agent, servant,
or employee. Service of such process shall be made by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-11-5.htm - 4K - Match Info - Similar pages
27-3-32
Section 27-3-32 Domestic insurer may transfer domicile to another state and be admitted as
foreign insurer if so qualified; approval of Commissioner of Insurance; effect of interests
of policyholders; effect upon certificates of authority, agents, etc., including outstanding
policies; insurer's duty to file new policy forms; insurer's duty to notify commissioner of
details of transfer and file amendments required by law. The certificate of authority, agents
appointments and licenses, rates, and other items which the Commissioner of Insurance allows,
in his discretion, which are in existence at the time any insurer licensed to transact the
business of insurance in this state transfers its corporate domicile to this or any other
state by merger, consolidation or any other lawful method shall continue in full force and
effect upon such transfer if such insurer remains duly qualified to transact the business
of insurance in this state. All outstanding policies of any transferring insurer...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-32.htm - 2K - Match Info - Similar pages
27-31A-3
Section 27-31A-3 Risk retention groups chartered in this state. (a)(1) A risk retention group
shall, pursuant to this title, be chartered and licensed to write only liability insurance
pursuant to this chapter and, except as provided elsewhere in this chapter, shall comply with
all of the laws, rules, regulations, and requirements applicable to the insurers chartered
and licensed in this state and with Section 27-31A-4, to the extent the requirements are not
a limitation on laws, rules, regulations, or requirements of this state. (2) Notwithstanding
any other provision to the contrary, all risk retention groups chartered in this state shall
file with the department and the National Association of Insurance Commissioners (NAIC) an
annual statement in a form prescribed by the NAIC and, if required by the commissioner, in
electronic format. The statement shall be completed in accordance with its instructions and
the NAIC Accounting Practices and Procedures Manual. (b) Before it may offer...
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