27-5B-15
Section 27-5B-15 Qualified U.S. financial institutions. (a) For purposes of subdivision (3) of Section 27-5B-14, a qualified U.S. financial institution means an institution that meets all of the following: (1) Is organized or, in the case of a U.S. office of a foreign banking organization, licensed, under the laws of the United States or any state thereof. (2) Is regulated, supervised, and examined by U.S. federal or state authorities having regulatory authority over banks and trust companies. (3) Has been determined by either the commissioner or the Securities Valuation Office of the National Association of Insurance Commissioners to meet such standards of financial condition and standing as are considered necessary and appropriate to regulate the quality of financial institutions whose letters of credit will be acceptable to the commissioner. (b) A qualified U.S. financial institution means, for purposes of those provisions of this law specifying those institutions that are eligible...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5B-15.htm - 1K - Match Info - Similar pages
32-7B-6
Section 32-7B-6 Responsibilities of the department. The department shall do the following: (1) Cooperate with insurers in operating the online insurance verification system. (2) Maintain the list of authorized requesting entities and individuals and make that a part of the online insurance verification system. (3) Maintain the online insurance verification system framework necessary to inquire of insurers using the key or keys in accordance with subdivision (3) of Section 32-7B-4. (4) Provide data security for the type of information transferred as prescribed by the advisory council. Data secured via the online insurance verification system may not be shared with any party other than those permitted by state or federal privacy laws. (5) Be responsible for keeping the advisory council informed on functionality, and planned or unplanned service interruptions. (6) Provide alternative methods of reporting for small insurers writing no more than 500 vehicles in the state as prescribed by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7B-6.htm - 2K - Match Info - Similar pages
41-4-97
Section 41-4-97 Annual report by certain state agencies regarding receipt of federal funds. (a) For the purposes of this section, the following terms shall have the following meanings: (1) FEDERAL RECEIPTS. Federal financial assistance received or administered from federal entities in the form of grants, loans, loan guarantees, property, cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, other assistance, and amounts received as reimbursement for services rendered to individuals, that is reported as part of a single audit. (2) SINGLE AUDIT. An audit, as described under 31 U.S.C. ยง 7502(d), of a non-federal entity that includes the entity's financial statements and federal awards. (3) STATE AGENCY. An agency, department, authority, bureau, commission, or other administrative office of the state, including the legislative and judicial branches of state government. This term does not include a professional licensing board of the state. (b) A...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-4-97.htm - 3K - Match Info - Similar pages
10A-20-7.11
Section 10A-20-7.11 Loans to corporation by members. Each member of the corporation shall make loans to the corporation as and when called upon by it to do so on the terms and other conditions as shall be approved from time to time by the board of directors, subject to the following conditions: (1) All loan limits shall be established at the one thousand dollars ($1,000) amount nearest to the amount computed in accordance with the provisions of this section. (2) No loan to the corporation shall be made if immediately thereafter the total amount of the obligations of the corporation would exceed 50 times the amount then paid in on the outstanding capital stock of the corporation. (3) The total amount outstanding on loans to the corporation made by any member at any one time, when added to the amount of the investment in the capital stock of the corporation then held by the member, shall not exceed: a. Twenty percent of the total amount then outstanding on loans to the corporation by all...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-20-7.11.htm - 3K - Match Info - Similar pages
27-17A-14
Section 27-17A-14 Surety bond. (a) As an alternative to the trust requirement of Section 27-17A-13, the details of which are set forth in Articles 3 and 4, a preneed provider may, with the prior approval of the commissioner, purchase a surety bond in an amount not less than the aggregate value of outstanding liabilities on undelivered preneed contracts for merchandise, services, and cash advances. For the purposes of this section, the term outstanding liabilities means the original retail amount of services and cash advances and the actual cost to the entity to provide the undelivered merchandise sold on each contract written after April 30, 2002. The surety bond shall be in an amount sufficient to cover the outstanding liability at the time each contract is executed. (b) The bond shall be made payable to the State of Alabama for the benefit of the commissioner and of all purchasers of preneed merchandise, services, and cash advances. The bond shall be issued by an insurance company...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17A-14.htm - 4K - Match Info - Similar pages
27-36A-5
Section 27-36A-5 Computation of minimum standard. (a) Except as provided in Sections 27-36A-6, 27-36A-7 and 27-36A-14, the minimum standard for the valuation of all the policies and contracts issued prior to May 28, 1996, shall be that provided by the laws in effect immediately prior to May 28, 1996. (b) Except as otherwise provided in Sections 27-36A-6, 27-36A-7, and 27-36A-14, the minimum standard for the valuation of all policies and contracts issued on or after May 28, 1996, shall be the commissioners reserve valuation method defined in Sections 27-36A-8, 27-36A-9, 27-36A-12, and 27-36A-14, three and one-half percent interest, or, in the case of life insurance policies and contracts, other than annuity and pure endowment contracts, issued on or after August 23, 1976, four percent interest for the policies issued prior to July 30, 1979, and five and one-half percent interest for single premium life insurance policies and four and one-half percent interest for all other policies...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-5.htm - 5K - Match Info - Similar pages
38-7-3
Section 38-7-3 License to operate or conduct child-care facility - Requirements; recordkeeping; parental notifications, etc.; affidavits; inspections and investigations. (a) No person, group of persons, or corporation may operate or conduct any facility for child care, as defined in this chapter, without being licensed or approved as provided in this chapter. (b)(1) Except as provided in subdivision (2), the licensure requirements of this chapter do not apply to a child-care facility that is operating as an integral part of a local church ministry or a religious nonprofit school, and is so recognized in the church or school's documents, whether operated separately or as a part of a religious nonprofit school unit, secondary school unit, or institution of higher learning under the governing board or authority of the local church or its convention, association, or regional body to which it may be subject. (2) A child-care facility that receives state or federal funds or is operating for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/38-7-3.htm - 8K - Match Info - Similar pages
40-23-260
Section 40-23-260 Program established; definitions; informational reports; Wholesale and Distributor Reporting Advisory Group. (a) This article shall establish the Wholesale to Retail Accountability Program or "WRAP". (b) For the purpose of this article, the following words shall have the following meanings: (1) DEPARTMENT. The State Department of Revenue. (2) LICENSED BEER OR WINE DISTRIBUTOR. A distributor, as licensed by the Alabama Alcoholic Beverage Control Board, selling or distributing beer or wine in this state. (3) PERSON. Any individual, firm, partnership, association, corporation, limited liability company, receiver, trustee, or any other entity. (4) RETAILER. A person or group of persons that have a relationship with each other as defined in Section 267(b) of the federal Internal Revenue Code whose primary business is the sale of tangible personal property at retail, including supporting operations such as warehousing, shipping, and storage of product, and who holds a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-23-260.htm - 8K - Match Info - Similar pages
8-33-6
Section 8-33-6 Conditions for policies. No warranty reimbursement insurance policy shall be issued, sold, or offered for sale in this state unless the policy meets the following conditions: (1) The policy states that the issuer of the policy will reimburse or pay on behalf of the vehicle protection product warrantor all covered sums which the warrantor is legally obligated to pay or will provide all service that the warrantor is legally obligated to perform according to the warrantor's contractual obligations under the provisions of the insured warranties sold by the warrantor. (2) The policy states that in the event payment due under the terms of the warranty is not provided by the warrantor within 60 days after proof of loss has been filed according to the terms of the warranty by the warranty holder, the warranty holder may file directly with the warranty reimbursement insurance company for reimbursement. (3) The policy provides that a warranty reimbursement insurance company that...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-6.htm - 2K - Match Info - Similar pages
27-1-10.1
Section 27-1-10.1 Insurance coverage for drugs to treat life-threatening illnesses. (a) The Legislature finds and declares the following: (1) The citizens of this state rely upon health insurance to cover the cost of obtaining health care and it is essential that the citizens' expectation that their health care costs will be paid by their insurance policies is not disappointed and that they obtain the coverage necessary and appropriate for their care within the terms of their insurance policies. (2) Some insurers deny payment for drugs that have been approved by the Federal Food and Drug Administration, hereafter referred to as FDA, when the drugs are used for indications other than those stated in the labelling approved by the FDA, off-label use, while other insurers with similar coverage terms do pay for off-label use. (3) Denial of payment for off-label use can interrupt or effectively deny access to necessary and appropriate treatment for a person being treated for a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-1-10.1.htm - 6K - Match Info - Similar pages
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