|
11-30-4
Section 11-30-4 Filing of bylaws and schedule of benefits and charges with State Insurance
Commissioner; exemption from regulation and from premium tax. Each liability self-insurance
fund established under the provisions of this chapter shall file with the State Insurance
Commissioner a copy of its bylaws and schedule of benefits and charges. Such group, however,
shall be exempt from regulation by the Department of Insurance of the State of Alabama and
all premiums or charges collected shall be exempt from insurance premium tax. (Acts 1986,
No. 86-499, p. 954, §4.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-30-4.htm - 877 bytes - Match Info - Similar pages
11-26-5
Section 11-26-5 Health and accident group to file bylaws and schedules with Insurance Commissioner;
group exempt from regulation and tax. Each health and accident self-insurance group established
under the provisions of this chapter shall file with the State Insurance Commissioner, a copy
of its bylaws and schedule of benefits and charges. Such group, however, shall be exempt from
regulation by the Department of Insurance of the State of Alabama and all premiums or charges
collected shall be exempt from insurance premium tax. (Acts 1981, No. 81-265, p. 348, §5.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-26-5.htm - 874 bytes - Match Info - Similar pages
27-31C-3
Section 27-31C-3 License to provide homeowners insurance; exemptions; powers and duties. (a)
An Alabama Coastal Captive Insurance Company, if permitted by its articles of incorporation
or organization, operating agreements, or charter, may apply to the commissioner for a license
to write homeowners insurance coverage as limited in Section 27-31B-3(a)(4) and as defined
and limited in the standard real property and contents insurance forms as approved by the
commissioner. (b) An Alabama Coastal Captive Insurance Company that qualified as an association
captive under the provisions of Section 27-31B-8 is exempt from the requirement that the association
be in existence for one year so long as the association is in good standing as an entity before
becoming an owner of an Alabama Coastal Captive Insurance Company. (c) An Alabama Coastal
Captive Insurance Company may write homeowners insurance coverage as limited in Section 27-31B-3(a)(4)
and as limited to perils described in subsection (a)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31C-3.htm - 6K - Match Info - Similar pages
8-33-11
are necessary to enable the commissioner to reasonably determine compliance or noncompliance
with this chapter. (b) The commissioner may take action that is necessary or appropriate to
enforce this chapter, the commissioner's rules and orders, and to protect warranty holders
in this state. If a warrantor engages in a pattern or practice of conduct that violates this
chapter and that the commissioner reasonably believes threatens to render the warrantor insolvent
or cause irreparable loss or injury to the property or business of any person or company
located in this state, the commissioner may do any of the following: (1) Issue an order directed
to that warrantor to cease and desist from engaging in further acts, practices, or transactions
that are causing the conduct. (2) Issue an order prohibiting that warrantor from selling or
offering for sale vehicle protection products in violation of this chapter. (3) Issue an order
imposing a civil penalty on that warrantor. (4) Issue any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-11.htm - 3K - Match Info - Similar pages
27-36A-4
Section 27-36A-4 Actuarial opinion of reserves. (a) Actuarial opinion prior to the operative
date of the valuation manual as defined by Section 27-36A-15. (1) GENERAL. Every life insurance
company doing business in this state shall annually submit the opinion of a qualified actuary
as to whether the reserves and related actuarial items held in support of the policies and
contracts specified by the commissioner by regulation are computed appropriately, are based
on assumptions which satisfy contractual provisions, are consistent with prior reported amounts,
and comply with applicable laws of this state. The commissioner, by regulation, shall define
the specifics of this opinion and add any other items deemed to be necessary to its scope.
(2) ACTUARIAL ANALYSIS OF RESERVES AND ASSETS SUPPORTING RESERVES. a. Every life insurance
company, except as exempted pursuant to regulation, shall also annually include in the opinion
required by subdivision (1) an opinion of the same qualified...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-4.htm - 12K - Match Info - Similar pages
8-32-10
Section 8-32-10 Enforcement provisions. (a) The commissioner may conduct investigations or
examinations of providers, administrators, insurers, or other persons to enforce this chapter
and protect service contract holders in this state. Upon request of the commissioner, the
provider shall make all accounts, books, and records concerning service contracts sold in
this state by the provider available to the commissioner which are necessary to enable the
commissioner to reasonably determine compliance or noncompliance with this chapter. (b) Providers,
administrators, or insurers being examined shall pay to the commissioner the travel expense
to and from such examination, a living expense allowance at reasonable rates customary for
the examination in the state where the examination takes place and as established or adopted
by regulation of the commissioner, and the compensation of the examiners making the examination,
upon presentation by the commissioner of a detailed account of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-32-10.htm - 4K - Match Info - Similar pages
27-29-9
Section 27-29-9 Injunctions; prohibitions against voting securities; sequestration of voting
securities. (a) Injunctions. Whenever it appears to the commissioner that any insurer or any
director, officer, employee, or agent thereof has committed, or is about to commit, a violation
of this chapter or of any rule, regulation, or order issued by the commissioner under this
chapter, the commissioner may apply to the circuit court for the county in which the principal
office of the insurer is located or if such insurer has no such office in this state, then
to the Circuit Court for Montgomery County for an order enjoining such insurer or such director,
officer, employee, or agent thereof from violating, or continuing to violate, this chapter
or any such rule, regulation, or order and for such other equitable relief as the nature of
the case and the interests of the insurer's policyholders, creditors, and shareholders or
the public may require. (b) Voting of securities; when prohibited. No...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-9.htm - 3K - Match Info - Similar pages
27-31B-6
Section 27-31B-6 Minimum capital and surplus. (a) No captive insurance company shall be issued
a license unless it shall possess and thereafter maintain unimpaired paid-in capital and surplus
as follows: (1) In the case of a pure captive insurance company, not less than two hundred
fifty thousand dollars ($250,000) or such other amount determined by the commissioner and
actuarially supported by a feasibility study. (2) In the case of an association captive insurance
company or risk retention group, not less than five hundred thousand dollars ($500,000) or
such other amount determined by the commissioner and actuarially supported by a feasibility
study. (3) In the case of an industrial insured captive insurance company, not less than five
hundred thousand dollars ($500,000). (4) In the case of a protected cell captive insurance
company, not less than two hundred fifty thousand dollars ($250,000) or such other amount
determined by the commissioner and actuarially supported by a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-6.htm - 3K - Match Info - Similar pages
27-13-101
Section 27-13-101 Compliance with article and rules, etc., of commissioner. Every advisory
organization assisting any rating organization or any insurer whose rates are subject to regulation
under Article 2 of this chapter or any rating organization or any insurer whose rates are
subject to regulation under Article 3 of this chapter, as a condition precedent to the rendering
of such assistance, shall comply with the provisions of this article and any, and all, duly
promulgated rules or regulations or orders of the commissioner relative to insurance rates,
rate-making, or assistance therein. (Acts 1965, 2nd Ex. Sess., No. 120, p. 167, §2; Acts
1971, No. 407, p. 707, §309.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-13-101.htm - 993 bytes - Match Info - Similar pages
27-35-8
be complete. (b) The reorganized and converted corporation shall be deemed in law to be a continuation
of the fraternal benefit society, whether the reorganization and conversion shall have been
accomplished by the formation of a new corporation or by the amendment of the certificate
of incorporation of the former society; and such reorganized and converted corporation shall
succeed to, and become invested with, all and singular, the rights, privileges, franchises,
and all property, real, personal, or mixed, and all debts due on any account and all
other things in action theretofore belonging to such fraternal benefit society; and all property,
rights, privileges, franchises, and all and every other interest shall thereafter be as effectually
the property of such reorganized and converted corporation as they were of the former fraternal
benefit society; and the title to any real estate, by deed or otherwise vested in such former
fraternal benefit society, shall vest in such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-35-8.htm - 1K - Match Info - Similar pages
|