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27-28-1
Section 27-28-1 Plan for exchange of stock, etc., between domestic stock insurer and holding
company - Authority. A domestic stock insurance company, hereinafter referred to in this chapter
as "domestic company," may cause a corporation to be organized under the laws of
this state or any other state of the United States of America to act as a holding company,
hereinafter referred to in this chapter as "holding company," which may, or may
not, be an insurance corporation, and the domestic company and holding company may adopt a
plan for an exchange of stock or other securities in which stockholders of the domestic company
exchange their stock for shares of stock or other securities issued by the holding company
pursuant to the provisions of Section 27-28-2. Such plan of exchange may provide for a direct
exchange of stock or other securities between the stockholders of the domestic company and
the holding company or may include provision for the merger of a wholly owned subsidiary of
the...
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27-8A-3
Section 27-8A-3 Qualification of courses and programs. The courses or programs subject to this
chapter shall include any course, seminar, industry recognized certification program, and
out-of-state reciprocal program, program of classroom instruction, or independent self-study
course authorized, developed, or sanctioned by an authorized insurer or recognized statewide
association of insurance producers and shall, subject to the approval of the commissioner,
qualify for the equivalency of the number of classroom hours assigned thereto by the commissioner.
Any independent self-study course authorized, developed, or sanctioned by any authorized insurers
or recognized state producers association, which includes an appropriate testing instrument
administered by a third-party proctor requiring a passing grade of 70 percent to successfully
complete and is approved by the commissioner, shall qualify for the equivalency of the number
of classroom hours assigned thereto by the commissioner....
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27-28-4
Section 27-28-4 Effect of chapter on powers of commissioner and authority to engage in insurance
business. Nothing contained in this chapter shall affect the power of the commissioner to
regulate, supervise, and control insurance companies pursuant to the laws of the State of
Alabama governing such companies, nor shall anything in this chapter be construed to authorize
any insurance company to engage in any kind, or kinds, of insurance business not authorized
by its charter or to authorize any holding company which is not an insurance corporation to
engage directly in the business of insurance. Subsequent to the effective date of any plan
of exchange, the commissioner, having due regard to the findings stated in subdivision (2)
of Section 27-28-2, shall have authority to require that the affairs of the domestic company
be conducted in such manner as to assure the continued safe conduct and transaction of the
business of insurance of the domestic company. (Acts 1971, No. 1449, p. 2472.)...
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27-35-1
Section 27-35-1 Conversion into stock or mutual life insurance company - Authority; how effected.
Any fraternal benefit society organized under the laws of this state may convert itself into
a stock life insurance company or a mutual life insurance company, which may be a continuation
of such society under an amended charter, if such society is then incorporated, or a new corporation
formed for such purpose if such society is then unincorporated. In either event, the conversion
of such society into a stock life insurance company or a mutual life insurance company shall
be effected as provided in this chapter. (Acts 1927, No. 537, p. 624; Acts 1971, No. 407,
p. 707, §727.)...
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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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5-20-3
Section 5-20-3 Definitions. Notwithstanding any other provision of law, for the purposes of
this chapter, the following terms shall have the meanings prescribed by this section: (1)
ALABAMA BANK. A bank which is organized under the laws of this state or of the United States
and which has its principal place of business in this state. (2) BANK. Any "insured bank"
as such term is defined in Section 3(h) of the Federal Deposit Insurance Act, 12 U.S.C. §1813(h).
(3) BANK HOLDING COMPANY. Any company which is a bank holding company under the Bank Holding
Company Act of 1956, as amended, 12 U.S.C. §1841(a). (4) CREDIT CARD. Any type of arrangement
or agreement pursuant to which any domestic lender or credit card bank, whether directly or
indirectly through any domestic lender acting as its agent, gives a debtor the privilege of
using a credit card or other credit confirmation, device or instrument of any type in transactions
out of which debt arises: a. By the domestic lender or credit...
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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...
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27-1-2
Section 27-1-2 Definitions. For the purposes of this title, the following terms shall have
the meanings respectively ascribed to them by this section. (1) INSURANCE. A contract whereby
one undertakes to indemnify another or pay or provide a specified amount or benefit upon determinable
contingencies. (2) INSURER. Every person engaged as indemnitor, surety, or contractor in the
business of entering into contracts of insurance. (3) PERSON. An individual, insurer, company,
association, organization, Lloyd's insurer, society, reciprocal insurer or interinsurance
exchange, partnership, syndicate, business trust, corporation, and every legal entity. (4)
COMMISSIONER. The Commissioner of Insurance of this state. (5) DEPARTMENT. The Department
of Insurance of this state. (6) DOMESTIC INSURER. One formed under the laws of this state.
(7) FOREIGN INSURER. One formed under the laws of any jurisdiction other than this state.
Except where distinguished by context, "foreign" insurers includes also...
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27-25-4
Section 27-25-4 Title insurance agent; appointment; issuance of policies. (a) No person shall
act as a title insurance agent in this state unless licensed pursuant to this chapter. Nothing
herein contained shall be construed to prevent a title insurer licensed to do business in
this state, nor an employee thereof, from issuing a policy of title insurance in this state.
(b) Each title insurance agent acting on behalf of a title insurance company shall be appointed
by the title insurance company in accordance with this chapter. The commissioner shall collect
from the title insurer the fees set forth in Section 27-25-4.7 for each appointment. Nothing
herein contained shall be construed to require the issuance of an appointment as described
in this subsection to a title insurer licensed to do business in this state, nor an employee
thereof, for the purpose of issuing a policy of title insurance in this state. (c) Unless
a later date is specifically authorized by the title insurer for a...
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27-29B-2
Section 27-29B-2 Definitions. For purposes of this chapter, the following definitions apply:
(1) COMMISSIONER. The Commissioner of Insurance. (2) CORPORATE GOVERNANCE ANNUAL DISCLOSURE
or CGAD. A confidential report filed by an insurer or insurance group in accordance with the
requirements of this chapter. (3) INSURANCE GROUP. Insurers and affiliates included within
an insurance holding company system as defined in Chapter 29. (4) INSURER. As defined in Section
27-1-2, except the term shall not include agencies, authorities, or instrumentalities of the
United States, its possessions and territories, the Commonwealth of Puerto Rico, the District
of Columbia, or a state or political subdivision of a state. (5) NATIONAL ASSOCIATION OF INSURANCE
COMMISSIONERS or NAIC. The National Association of Insurance Commissioners and its affiliates
and subsidiaries. (Act 2019-97, §1.)...
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