27-34-16
Section 27-34-16 Incorporation of existing unincorporated domestic voluntary associations. (a) After January 1, 1973, no unincorporated or voluntary association shall be permitted to transact business in this state as a fraternal benefit society. (b) Any domestic voluntary association now authorized to transact business in this state may incorporate and shall receive from the commissioner a permanent certificate of incorporation as a fraternal benefit society when: (1) It has completed its conversion to an incorporated society not later than January 1, 1974; (2) It has filed its articles of incorporation and has satisfied the other requirements described in Sections 27-34-9 through 27-34-13; and (3) The commissioner has made such examination and procured whatever additional information he deems advisable. (c) Every voluntary association so incorporated shall incur the obligations and enjoy the benefits thereof the same as though originally incorporated, and such corporation shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-34-16.htm - 1K - Match Info - Similar pages
27-4-2
Section 27-4-2 Advance fees, licenses, and miscellaneous charges. (a) The Commissioner of Insurance shall collect in advance fees, licenses, and miscellaneous charges as follows: (1) Certificate of authority: a. Initial application for original certificate of authority, including the filing with the commissioner of all documents incidental thereto ..... $500 b. Issuance of original certificate of authority ..... 500 c. Annual continuation or renewal fee ..... 500 d. Reinstatement fee ..... 500 (2) Charter documents, filing with the commissioner amendment to articles of incorporation or of association, or of other charter documents or to bylaws ..... 25 (3) Solicitation permit, filing application and issuance ..... 250 (4) Annual statement of insurer, except when filed as part of application for original certificate of authority, filing ..... 25 (5) Producer license (resident or nonresident): a. Individuals: 1. Application fee (For filing of initial application for license) ..... 30 2....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-4-2.htm - 4K - 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
27-29-1
gross written premiums of the insurance holding company system are at least ten billion dollars ($10,000,000,000). (9) PERSON. An individual, a corporation, a limited liability company, a partnership, an association, a joint-stock company, a trust, an unincorporated organization, or any similar entity or any combination of the foregoing acting in concert, but shall not include any joint venture partnership exclusively engaged in owning, managing, leasing, or developing real or tangible personal property. (10) SECURITYHOLDER. One who owns any security of such person, including common stock, preferred stock, debt obligations, and other security convertible into, or evidencing, the right to acquire any of the foregoing. (11) SUBSIDIARY. An affiliate controlled by such person, directly or indirectly, through one or more intermediaries. (12) VOTING SECURITY. The term shall include any security convertible into, or evidencing, a right to acquire a voting security. (Acts 1973, No. 1042,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-1.htm - 5K - Match Info - Similar pages
28-3-190
Section 28-3-190 Levy of tax; collection; disposition of proceeds by localities; enforcement and administration; penalties; exclusive nature of tax. (a) Levy. In addition to the excise tax levied by Article 5A of Chapter 3 of this title and the licenses provided for by Chapter 3A of this title and by Section 28-3-194, and any acts amendatory thereof, supplementary thereto or substituted therefor, and municipal and county licenses, there is hereby levied a privilege or excise tax on every person licensed under the provisions of Chapter 3A who sells, stores, or receives for the purpose of distribution, to any person, firm, corporation, club, or association within the State of Alabama any beer. The tax levied hereby shall be measured by and graduated in accordance with the volume of sales by such person of beer, and shall be an amount equal to one and six hundred twenty-five thousands cents (1.625 cents) for each four fluid ounces or fractional part thereof. (b) Collection. The tax levied...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/28-3-190.htm - 43K - Match Info - Similar pages
27-2B-2
Section 27-2B-2 Definitions. As used in this chapter, these terms shall have the following meanings: (1) ADJUSTED RBC REPORT. An RBC report which has been adjusted by the commissioner in accordance with subsection (e) of Section 27-2B-3. (2) CORRECTIVE ORDER. An order issued by the commissioner specifying corrective actions which the commissioner has determined are required. (3) DOMESTIC INSURER. Any insurer domiciled in this state. (4) FOREIGN INSURER. Any insurer which is licensed to do business in this state but not domiciled in this state. (5) FRATERNAL BENEFIT SOCIETY. Any insurer licensed under Chapter 34. (6) HEALTH ORGANIZATION. Any health care service plan, health maintenance organization, limited health service organization, dental services corporation, or other managed care organization licensed under this title. This term does not include any life and disability insurer or property and casualty insurer. (7) INSURER. As defined in Section 27-1-2, including, without...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-2B-2.htm - 4K - Match Info - Similar pages
27-2B-7
Section 27-2B-7 Mandatory control level event; commissioner's duties. (a) "Mandatory control level event" means any of the following events: (1) The filing of an RBC report which indicates that the insurer's total adjusted capital is less than its mandatory control level RBC. (2) Notification by the commissioner to the insurer of an adjusted RBC report that indicates the event in subdivision (1), provided the insurer does not challenge the adjusted RBC report under Section 27-2B-8. (3) If, pursuant to Section 27-2B-8, the insurer challenges an adjusted RBC report that indicates the event in subdivision (1), notification by the commissioner to the insurer that the commissioner has, after a hearing, rejected the insurer's challenge. (b) In the event of a mandatory control level event: (1) With respect to a life insurer, health organization, or fraternal benefit society, the commissioner shall take actions as necessary to place the insurer under regulatory control pursuant to Chapter 32....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-2B-7.htm - 2K - Match Info - Similar pages
27-2B-4
Section 27-2B-4 Company action level event; preparation and submission of RBC plan or revised RBC plan; notification of unsatisfactory filing; copies of plans. (a) Company action level event means any of the following events: (1) The filing of an RBC report by an insurer which indicates any of the following: a. The insurer's total adjusted capital is greater than or equal to its regulatory action level RBC, but less than its company action level RBC. b. If a life or health insurer or fraternal benefit society, the insurer has total adjusted capital which is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and 3.0 and has a negative trend. c. If a property and casualty insurer or a health organization, the insurer has total adjusted capital which is greater than or equal to its company action level RBC, but less than the product of its authorized control level RBC and 3.0, and triggers the trend test determined in...
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27-34-36
Section 27-34-36 Annual statements - Requirements. (a) Report shall be filed and synopses of annual statements shall be published in accordance with the provisions of this section. (b) Every society transacting business in this state shall annually, on or before March 1, unless for cause shown such time has been extended by the commissioner, file with the commissioner a true statement of its financial condition, transactions, and affairs for the preceding calendar year and pay a fee of $10.00 for filing same. The statement shall be in general form and context as approved by the National Association of Insurance Commissioners for fraternal benefit societies and as supplemented by additional information required by the commissioner. (c) A synopsis of its annual statement providing an explanation of the facts concerning the condition of the society thereby disclosed shall be printed and mailed to each benefit member of the society not later than June 1 of each year, or, in lieu thereof,...
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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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