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27-32-29
Section 27-32-29 Setoff of credits and debts. (a) In all cases of mutual debts or mutual credits
between the insurer and another person in connection with any action or proceeding under this
chapter, such credits and debts shall be set off and the balance only shall be allowed or
paid, except as provided in subsection (b) of this section. (b) No offset shall be allowed
in favor of any such person where: (1) The obligation of the insurer to such person would
not at the date of the entry of any liquidation order or otherwise, as provided in Section
27-32-26, entitle him to share as a claimant in the assets of the insurer; (2) The obligation
of the insurer to such person was purchased by, or transferred to, such person with a view
of its being used as an offset; or (3) The obligation of such person is to pay an assessment
levied against the members of a mutual insurer or against the subscribers of a reciprocal
insurer or is to pay a balance upon the subscription to the capital stock of a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-29.htm - 1K - Match Info - Similar pages
27-61-1
functions. 5. CORPORATE RECORDS OF THE COMMISSION The Commission shall maintain its corporate
books and records in accordance with the Bylaws. 6. QUALIFIED IMMUNITY, DEFENSE, AND INDEMNIFICATION
a. The Members, officers, executive director, employees, and representatives of the Commission,
the Executive Committee, and any other Committee of the Commission shall be immune from suit
and liability, either personally or in their official capacity, for any claim for damage to
or loss of property or personal injury or other civil liability caused by or
arising out of any actual or alleged act, error, or omission that occurred, or that the person
against whom the claim is made had a reasonable basis for believing occurred within the scope
of Commission employment, duties, or responsibilities; provided that nothing in this paragraph
shall be construed to protect any such person from suit and/or liability for any damage, loss,
injury, or liability caused by the intentional or willful or wanton...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
27-60-2
committees as its bylaws may provide for the carrying out of its functions. 4. Corporate records
of the commission. The commission shall maintain its corporate books and records in accordance
with the bylaws. 5. Qualified immunity, defense, and indemnification. a. The members, officers,
executive director, employees, and representatives of the commission shall be immune from
suit and liability, either personally or in their official capacity, for any claim for damage
to or loss of property or personal injury or other civil liability caused by
or arising out of any actual or alleged act, error, or omission that occurred, or that the
person against whom the claim is made had a reasonable basis for believing occurred within
the scope of commission employment, duties, or responsibilities. Nothing in this paragraph
shall be construed to protect any such person from suit or liability, or both, for any damage,
loss, injury, or liability caused by the intentional or willful and wanton...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-60-2.htm - 45K - Match Info - Similar pages
40-18-376
Section 40-18-376 Investment credit; realization methods; regulations. (a) If provided for
in the project agreement, the incentivized company is allowed an investment credit in an annual
amount equal to 1.5 percent of the capital investment incurred as of the beginning of the
incentive period, to be used as follows: (1) To offset the income taxes found in this chapter,
or as an estimated tax payment of income taxes; (2) To offset the financial institution excise
tax found in Chapter 16; (3) To offset the insurance premium tax levied by Section 27-4A-3(a),
or as an estimated payment of insurance premium tax; (4) To offset utility taxes; or (5) To
offset some combination of the foregoing, so long as the same credit is used only once. The
incentive period shall begin no earlier than the placed-in-service date. The incentive period
shall be 10 years. Should only some portion of a tax year be included in the incentive period,
the amount of the investment credit shall be prorated on a daily...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-376.htm - 7K - Match Info - Similar pages
27-44-5
territories, or protectorates that do not have an association similar to the association created
by this chapter, shall be deemed residents of the state of domicile of the insurer that issued
the policies or contracts. (19) STATE. A state, the District of Columbia, Puerto Rico, and
a United States possession, territory, or protectorate. (20) STRUCTURED SETTLEMENT ANNUITY.
An annuity purchased in order to fund periodic payments for a plaintiff or other claimant
in payment for or with respect to personal injury suffered by the plaintiff
or other claimant. (21) SUPPLEMENTAL CONTRACT. A written agreement entered into for the distribution
of proceeds under a life, disability, or annuity policy or contract. (22) UNALLOCATED ANNUITY
CONTRACT. An annuity contract or group annuity certificate which is not issued to and owned
by an individual, except to the extent of any annuity benefits guaranteed to an individual
by an insurer under the contract or certificate. (Acts 1982, No. 82-561, p. 922,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-5.htm - 7K - Match Info - Similar pages
27-31B-16
tax on premiums written during the calendar year is less than the minimum set forth in this
section, the tax due shall be prorated as follows: (1) If surrendered on or before March 31,
25 percent. (2) If surrendered April 1 to June 30, 50 percent. (3) If surrendered July 1 to
September 30, 75 percent. (4) If surrendered October 1 to December 31, 100 percent. (l) The
tax provided for in this section shall constitute all taxes collectible under the laws of
this state from any captive insurance company, and no other occupation tax or other taxes
shall be levied or collected from any captive insurance company by the state or any county,
city, or municipality within this state, except business privilege taxes and ad valorem taxes
on real and personal property used in the production of income. (m) The tax provided
for in this section shall not be applicable if the captive insurance company writes no premiums
during the calendar year. (Act 2006-509, p. 1153, §1; Act 2016-191, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-16.htm - 6K - Match Info - Similar pages
35-11-371
persons, firms, or corporations claimed by the injured person, or the legal representative
of the person, to be liable for damages arising from the injuries. The claimant shall also
within one day after the filing of the claim or lien, mail a copy thereof by registered or
certified mail, postage prepaid, for each person, firm, or corporation so claimed to be liable
on account of the injuries, at the addresses so given in the statement, and to the patient,
his or her guardian, or his or her personal representative at the address given at
the time of admission. (d) The filing of a claim or lien shall be notice thereof to all persons,
firms, or corporations liable for damages, whether or not they are named in the claim or lien.
Nothing shall be deemed to preclude the hospital from perfecting its lien outside of the time
limits stated in this section through providing actual notice to persons, firms, or corporations.
(e) The judge of probate shall endorse thereon the date and hour of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-11-371.htm - 5K - Match Info - Similar pages
27-42-8
an amount as follows: 1. The full amount of a covered claim for benefits under workers' compensation
insurance coverage. 2. An amount not exceeding ten thousand dollars ($10,000) per policy for
a covered claim for the return of unearned premium. 3. An amount not exceeding three hundred
thousand dollars ($300,000) or the policy limits, whichever is less, per claim for all covered
claims. For purposes of this limitation, all claims of any kind whatsoever arising out of,
or related to, bodily injury or death to any one person shall constitute a single claim,
regardless of the number of claims made or the number of claimants. b. In no event shall the
association be obligated to pay a claimant an amount in excess of the obligation of the insolvent
insurer under the policy or coverage from which the claim arises. c. Notwithstanding any other
provisions of this chapter, a covered claim shall not include any claim filed with the association
after the earlier of: 1. Twenty-five months...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-42-8.htm - 10K - Match Info - Similar pages
27-44-3
Section 27-44-3 Scope of chapter. (a) This chapter shall provide coverage for the policies
and contracts specified in subsection (b) as follows: (1) To persons who, regardless of where
they reside (except for non-resident certificate holders under group policies or contracts),
are the beneficiaries, assignees, or payees of the persons covered under subdivision (2).
(2) To persons who are owners of or certificate holders under the policies or contracts, other
than structured settlement annuities, and in each case who are either of the following: a.
Residents b. Not residents, but only under all of the following conditions: 1. The insurer
that issued the policies or contracts is domiciled in this state. 2. The states in which the
persons reside have associations similar to the association created by this chapter. 3. The
persons are not eligible for coverage by an association in any other state due to the fact
the insurer was not licensed in the state at the time specified in the state's...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-3.htm - 12K - Match Info - Similar pages
27-7-1
with or offering advice directly to a purchaser or prospective purchaser of a particular contract
of insurance concerning any of the substantive benefits, terms, or conditions of the contract,
provided that the person engaged in that act either sells insurance or obtains insurance from
insurers for purchasers. (17) PERSON. An individual or a business entity. (18) PROPERTY LINES
OF AUTHORITY. Any one or more of the following lines as defined in Section 27-7-14.1: Property;
casualty; and personal lines. (19) SELL. To exchange a contract of insurance by any
means, for money or its equivalent, on behalf of an insurance company. (20) SERVICE REPRESENTATIVE.
A natural person, other than an officer, manager, or managing general agent of the insurer,
employed on salary or at an hourly rate by an insurer, managing general agent, or a captive
producer to work for, with or through producers in selling, soliciting, or negotiating insurance
in the insurer or in the insurers represented by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-1.htm - 7K - Match Info - Similar pages
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