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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
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34-21-2
Section 34-21-2 Board of Nursing generally. (a) There is created the Board of Nursing, which
shall be composed of 13 members to be appointed and have the duties and powers enumerated
in this section. The membership of the board shall be inclusive and reflect the racial, gender,
geographic, urban/rural, and economic diversity of the state. In order to insure continuity
of administration, the nine board members provided for by Section 3 of Act 427, Regular Session
1975, shall continue to serve to the completion of the term for which they are serving. The
Governor, within 60 days of January 1, 1984, shall appoint a tenth member who shall be a licensed
practical nurse for a term of four years from a list of nominees furnished him or her by the
Alabama Federation of Licensed Practical Nurses, Incorporated, or its successor organization.
As the terms of all board members expire, their successors shall be appointed for terms of
four years each. Vacancies in unexpired terms shall be filled in...
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33-18-1
Section 33-18-1 Alabama-Coosa-Tallapoosa River Basin Compact. The State of Alabama hereby agrees
to the following interstate compact known as the Alabama-Coosa-Tallapoosa River Basin Compact:
Alabama-Coosa-Tallapoosa River Basin Compact The States of Alabama and Georgia and the United
States of America hereby agree to the following compact which shall become effective upon
enactment of concurrent legislation by each respective state legislature and the Congress
of the United States. Short Title This act shall be known and may be cited as the "Alabama-Coosa-Tallapoosa
River Basin Compact" and shall be referred to hereafter in this document as the "ACT
Compact" or "compact." Article I Compact Purposes This compact among the States
of Alabama and Georgia and the United States of America has been entered into for the purposes
of promoting interstate comity, removing causes of present and future controversies, equitably
apportioning the surface waters of the ACT, engaging in water planning,...
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33-19-1
Section 33-19-1 Apalachicola-Chattahoochee-Flint River Basin Compact. The State of Alabama
hereby agrees to the following interstate compact known as the Apalachicola-Chattahoochee-Flint
River Basin Compact: Apalachicola-Chattahoochee-Flint River Basin Compact The States of Alabama,
Florida and Georgia and the United States of America hereby agree to the following compact
which shall become effective upon enactment of concurrent legislation by each respective state
legislature and the Congress of the United States. Short Title This Act shall be known and
may be cited as the "Apalachicola-Chattahoochee-Flint River Basin Compact" and shall
be referred to hereafter in this document as the "ACF Compact" or "compact."
Article I Compact Purposes This compact among the States of Alabama, Florida and Georgia and
the United States of America has been entered into for the purposes of promoting interstate
comity, removing causes of present and future controversies, equitably apportioning the...
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27-32-27.1
Section 27-32-27.1 Authority of receivers and federal home loan banks regarding collateral
pledged by insurer members in delinquency proceedings. (a) For purposes of this chapter, the
following terms shall have the following meanings: (1) FEDERAL HOME LOAN BANK or FHLB. A federal
home loan bank established pursuant to the Federal Home Loan Bank Act, 12 U.S.C. Section 1421,
et seq. (2) INSURER MEMBER. An insurer who is a member of a federal home loan bank. (b) Notwithstanding
any other provision of this chapter, the receiver for an insurer member may not void any transfer
of, or any obligation to transfer, money or any other property arising under or in connection
with any federal home loan bank security agreement, or any pledge, security, collateral, or
guarantee agreement, or any other similar arrangement or credit enhancement relating to a
federal home loan bank security agreement made in the ordinary course of business and in compliance
with the applicable federal home loan bank...
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27-33-2
Section 27-33-2 Deposit of assets in trust. (a) An alien insurer may use Alabama as a state
of entry to transact insurance in the United States by making and maintaining in this state
a deposit of assets in trust with a solvent bank or trust company approved by the commissioner.
(b) The deposit, together with other trust deposits of the insurer held in the United States
for the same purpose, shall be in amount not less than the deposits required of an alien insurer
under Section 27-3-14 and shall consist of cash and/or securities eligible for the investment
of the funds of like domestic insurers. (c) Such a deposit may be referred to as "trusteed
assets." (Acts 1971, No. 407, p. 707, §657.)...
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27-42-20
Section 27-42-20 Access to assets of insolvent insurer; application for court approval of plan
to disburse assets; notice of application. (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
Insurance Guaranty Association and to any entity or person performing a similar function in
another state. (The Alabama Insurance Guaranty Association and any entity or person performing
a similar function in other states shall hereinafter be referred to collectively as the 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
Alabama Uniform Insurers Liquidation Act but only with...
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27-29-11
Section 27-29-11 Delinquency proceedings and rehabilitation. Whenever it appears to the commissioner
that any person has committed a violation of this chapter which so impairs the financial condition
of a domestic insurer as to threaten imminent insolvency or impairment as defined in subdivision
(1) of Section 27-32-1 or make the further transaction of business by it hazardous to its
policyholders, creditors, shareholders, or the public, then the commissioner may proceed as
provided in Sections 27-32-3 through 27-32-7 to take possession of the property of such domestic
insurer and to conduct the business thereof. (Acts 1973, No. 1042, p. 1636, §12.)...
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27-31-29
Section 27-31-29 Proceedings when assets of insurer insufficient. (a) If the assets of a reciprocal
insurer are at any time insufficient to discharge its liabilities, other than any liability
on account of funds contributed by the attorney or others, and to maintain the required surplus,
its attorney shall forthwith make up the deficiency or levy an assessment upon the subscribers
for the amount needed to make up the deficiency, but subject to the limitation set forth in
the power of attorney or policy. (b) If the attorney fails to make up such deficiency or to
make the assessment within 30 days after the commissioner orders him to do so or if the deficiency
is not fully made up within 60 days after the date the assessment was made, the insurer shall
be deemed insolvent and shall be proceeded against as authorized by this title. (c) If liquidation
of such an insurer is ordered, an assessment shall be levied upon the subscribers for such
an amount, subject to limits as provided by this...
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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...
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