27-31B-2
Section 27-31B-2 Definitions. As used in this chapter, the following terms shall have the following meanings, unless the context clearly indicates otherwise: (1) AFFILIATED COMPANY. Any company in the same corporate system as a parent, an industrial insured, or a member organization by virtue of common ownership, control, operation, or management. (2) ALIEN CAPTIVE INSURANCE COMPANY. Any insurance company formed to write insurance business for its parents and affiliates and licensed pursuant to the laws of an alien jurisdiction which imposes statutory or regulatory standards in a form acceptable to the commissioner on companies transacting the business of insurance in that jurisdiction. (3) ASSOCIATION. Any legal association of individuals, corporations, limited liability companies, partnerships, associations, or other entities whereby either of the following exists: a. The member organizations of which, or the association itself, whether or not in conjunction with some or all of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-2.htm - 10K - Match Info - Similar pages
16-6F-7
Section 16-6F-7 Applicant proposals; conversion to public charter school; terms of charters; contracts. (a) Request for proposals. (1) To solicit, encourage, and guide the development of quality public charter school applications, every local school board, in its role as public charter school authorizer, shall issue and broadly publicize a request for proposals for public charter school applications by July 17, 2015, and by November 1 in each subsequent year. The content and dissemination of the request for proposals shall be consistent with the purposes and requirements of this act. (2) Public charter school applicants may submit a proposal for a particular public charter school to no more than one local school board at a time. (3) The department shall annually establish and disseminate a statewide timeline for charter approval or denial decisions, which shall apply to all authorizers in the state. (4) Each local school board's request for proposals shall present the board's strategic...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-6F-7.htm - 16K - Match Info - Similar pages
27-27-42
Section 27-27-42 Deficiencies in stock insurer's capital or assets of mutual insurers - Curing of deficiency. Any insurer receiving the commissioner's notice mentioned in Section 27-27-41: (1) If a stock insurer and if its articles of incorporation and laws of this state so permit, by resolution of its board of directors and subject to any limitations upon assessment contained in its articles of incorporation, may assess its stockholders for amounts necessary to cure the deficiency and provide the insurer with a reasonable amount of surplus in addition. If any stockholder fails to pay a lawful assessment after notice given to him in person or by advertisement in such time and manner as approved by the commissioner, the insurer may require the return of the original certificate of stock held by the stockholder and, in cancellation and in lieu thereof, issue a new certificate for such number of shares as the stockholder may then be entitled to, upon the basis of the stockholder's...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-42.htm - 1K - Match Info - Similar pages
40-16-5.1
Section 40-16-5.1 Payment of estimated financial institution excise taxes. (a) Financial institutions shall pay estimated financial institution excise tax in accordance with 26 U.S.C. § 6655, except the provisions of 26 U.S.C. § 6655(g)(1)(A)(ii) through (iii) shall not apply. The balance of the tax owed, after reduction by the credits allowed by this chapter, and by prior payments including estimated payments as provided in this section, shall be due and paid at the same time as the due date of an original return. (b) For the purposes of this section: (1) Section 40-16-4 shall be substituted when 26 U.S.C. § 6655 refers to Chapter 1; (2) Section 40-16-4 shall be substituted when 26 U.S.C. § 6655 refers to Section 11; (3) The terms section 1201(a) and Subchapter L of Chapter 1 referred to in 26 U.S.C. § 6655(g)(1)(A)(i) shall be ignored for Alabama excise tax purposes; (4) Section 40-16-8 shall be substituted when 26 U.S.C. § 6655(g)(1)(B) refers to Part IV of Subchapter A of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-16-5.1.htm - 1K - Match Info - Similar pages
27-27-43
Section 27-27-43 Mutualization of stock insurers. (a) A stock insurer other than a title insurer may become a mutual insurer under such plan and procedure as may be approved by the commissioner after a hearing thereon. (b) The commissioner shall not approve any such plan, procedure, or mutualization unless: (1) It is equitable to stockholders and policyholders; (2) It is subject to approval by the holders of not less than three-fourths of the insurer's outstanding capital stock having voting rights and by not less than three-fourths of the insurer's policyholders who vote on such plan in person, by proxy, or by mail pursuant to such notice and procedure as may be approved by the commissioner; (3) If a life insurer, the right to vote thereon is limited to holders of policies other than term or group policies and whose policies have been in force for more than one year; (4) Mutualization will result in retirement of shares of the insurer's capital stock at a reasonable price as specified...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-43.htm - 2K - Match Info - Similar pages
10A-9A-4.04
Section 10A-9A-4.04 General partner's liability. (a) Except as otherwise provided in subsections (b) and (c), all general partners are liable jointly and severally for all debts, obligations, and liabilities of the limited partnership unless otherwise agreed by the claimant or provided by law. (b) A person that becomes a general partner of an existing limited partnership is not personally liable for any debt, obligation, or liability of a limited partnership incurred before the person became a general partner. (c) A debt, obligation, or liability of a limited partnership incurred while the limited partnership is a limited liability limited partnership, whether arising in contract, tort, or otherwise, is solely the debt, obligation, or liability of the limited partnership. A general partner of a limited liability limited partnership is not personally liable, directly or indirectly, by way of indemnification, contribution, assessment or otherwise, for such a debt, obligation, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-4.04.htm - 1K - Match Info - Similar pages
10A-9A-6.07
Section 10A-9A-6.07 Liability to other persons of person dissociated as general partner. (a) A person's dissociation as a general partner does not of itself discharge the person's liability as a general partner for a debt, obligation, or liability of the limited partnership incurred before dissociation. Except as otherwise provided in subsections (b) and (c), the person is not liable for a limited partnership's debts, obligations, or liabilities incurred after dissociation. (b) A person whose dissociation as a general partner resulted in a dissolution and winding up of the limited partnership's activities and affairs is liable to the same extent as a general partner under Section 10A-9A-4.04 on an obligation incurred by the limited partnership under Section 10A-9A-8.04. (c) A person that has dissociated as a general partner but whose dissociation did not result in a dissolution and winding up of the limited partnership's activities and affairs is liable on a transaction entered into by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-6.07.htm - 2K - Match Info - Similar pages
10A-8A-3.06
Section 10A-8A-3.06 Partner's liability. (a) Except as otherwise provided in subsection (b) or subsection (c), all partners are liable jointly and severally for all obligations of the partnership unless otherwise agreed by the claimant or provided by law. (b) A person admitted as a partner into an existing partnership is not personally liable for any partnership obligation incurred before the person's admission as a partner. (c) Except as set forth in subsection (b) of Section 10A-8A-10.02, a debt, obligation, or other liability of a partnership incurred while the partnership is a limited liability partnership is solely the debt, obligation, or other liability of the limited liability partnership. Except as set forth in subsection (b) of Section 10A-8A-10.02, a partner in a limited liability partnership is not personally liable or accountable, directly or indirectly, including by way of indemnification, contribution, assessment, or otherwise, for debts, obligations, and liabilities of,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-3.06.htm - 2K - Match Info - Similar pages
27-1-24.1
Section 27-1-24.1 Incentives for homeowners insurance policies with wind coverage in certain areas. (a) Insurance carriers providing full property and casualty coverage, to specifically include wind and hail coverage, to property owners within the areas defined in Section 27-1-24, including any portion of the area as it may be expanded from time to time pursuant to Section 27-1-27, but only on properties that as of the time of writing are insured for wind coverage through the Alabama Insurance Underwriting Association, may claim as a nonrefundable credit against the insurance premium tax imposed by Chapter 4A of this title, in an amount equal to 20 percent of the insurance premium tax otherwise due on the premium written for the property owners for the taxable year in Zones B4, B5, M4, M5, or successor zones; and 35 percent of the insurance premium tax otherwise due on the premium written for the property owners for the taxable year in Zones Gulf Front, B1, B2, B3, M1, M2, M3, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-1-24.1.htm - 3K - Match Info - Similar pages
27-3-4
Section 27-3-4 Authority to transact insurance - Eligibility. To qualify for and hold authority to transact insurance in this state, an insurer must be otherwise in compliance with this title and with its charter powers and must be an incorporated stock insurer or an incorporated mutual insurer or a reciprocal insurer, all of the same general type as may be formed as a domestic insurer under this title; except that: (1) No foreign insurer shall be authorized to transact insurance in this state which does not maintain reserves as required by Chapter 36 of this title applicable to the kind, or kinds, of insurance transacted by such insurer, wherever transacted in the United States, or which transacts insurance in the United States on the assessment premium plan, stipulated premium plan, cooperative plan, or any similar plan; (2) Any foreign insurer which has transacted insurance as an authorized insurer in its state or country of domicile for less than five years shall not be authorized...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-4.htm - 3K - Match Info - Similar pages
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