27-4-8
Section 27-4-8 Annual license fee of life insurers organized to aid nonprofit educational
and scientific institutions. Annuity considerations and premiums received by a life insurer
licensed to transact business in this state and which is organized and operated without profit
to any private shareholder or individual and exclusively for the purpose of aiding nonprofit
education and scientific institutions by issuing insurance or annuity contracts only for the
benefit of such institutions and individuals employed in the services thereof at the time
such policy or contract is issued shall not be subject to the payment of a privilege tax based
upon premiums or annuity considerations under the provisions of this chapter or any other
law of this state. In lieu of such privilege tax upon premiums and annuity considerations,
such nonprofit company shall pay an annual license fee of $5,000.00 to the commissioner for
the privilege of transacting an insurance business in this state. The initial...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-4-8.htm - 1K - Match Info - Similar pages

27-17A-10
Section 27-17A-10 Certificate required. (a) No person may sell a preneed contract without
first having a valid certificate of authority. (b)(1) No person may receive any funds for
payment on a preneed contract who does not hold a valid certificate of authority. (2) Any
preneed transaction in which a buyer pays to the seller before need, in whole or in part,
a purchase price for funeral or cemetery merchandise and services, and in which the seller
is not obligated to deliver the contracted for merchandise or to perform the services until
need, in whole or in part, shall be evidenced by a written preneed contract satisfying the
requirements of this chapter and signed by the seller and the purchaser. No person may receive
or accept any form of consideration in such a transaction without a fully signed written preneed
contract. A transaction not evidenced by a signed written preneed contract shall be voidable
at the election of the buyer and, if such election is made, the seller shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17A-10.htm - 3K - Match Info - Similar pages

27-3-16
Section 27-3-16 Lloyd's insurers. Aggregations of individuals as underwriters, whether
domestic, foreign, or alien, assuming insurance risks upon the plan known as "Lloyd's,"
whereby each underwriter is liable for the proportionate part assumed by him of the whole
amount so insured by a policy issued by such underwriters, may be authorized to transact any
kind, or kinds, of insurance in this state other than life or title insurances if the insurer
is otherwise in compliance with this title, subject to the following conditions: (1) If a
foreign or alien insurer, it must have successfully been in business as an authorized insurer
in the state or country of domicile for at least 10 years. (2) If a domestic insurer, it must
file with the commissioner evidence, satisfactory to him, that it has been soundly organized
and that its insurance operations will, at all times, be competently conducted by individuals
having the necessary experience in insurance underwriting and management to do so,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-16.htm - 2K - Match Info - Similar pages

27-38-6
Section 27-38-6 Applicability of title. Except for Sections 27-15-16, 27-15-17, 27-15-22,
27-15-23, and 27-15-28.1 of this title, in the case of a variable annuity contract, and Sections
27-15-2, 27-15-3, 27-15-8.1, 27-15-9, 27-15-10, 27-15-11, and 27-15-28 of this title, in the
case of a variable life insurance policy, and except as otherwise provided in this chapter,
all pertinent provisions of this title shall apply to separate accounts and contracts relating
thereto. Any individual variable life insurance contract, delivered or issued for delivery
in this state shall contain grace, reinstatement and nonforfeiture provisions appropriate
to such a contract. (Acts 1969, No. 565, p. 1045, §2; Acts 1971, No. 407, p. 707, §759;
Acts 1985, 2nd Ex. Sess., No. 85-993, p. 357, §3.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-38-6.htm - 1K - Match Info - Similar pages

27-25-4.8
Section 27-25-4.8 Implementation. (a) The commissioner, by rule pursuant to Chapter
2, may provide for the implementation of the requirements of this chapter. (b) Each title
insurance agent certificate of authority in force prior to January 1, 2013, shall be issued
a replacement title insurance agent license and appointment upon payment of the annual fee
in the amount set forth in Section 27-25-4 prior to January 1, 2013. A replacement
title insurance agent shall be authorized to continue to issue title insurance policies in
the same manner as permitted in Section 27-25-4 prior to January 1, 2013. (c) A replacement
title insurance agent license issued in accordance with subsection (b) shall be valid for
six months, during which time the person shall satisfy the requirements for a title insurance
agent license pursuant to Sections 27-25-4.1 and 27-25-4.3 or the replacement license shall
thereupon expire and be canceled. The appointment issued in accordance with subsection (b)
shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-25-4.8.htm - 2K - 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

27-35-6
Section 27-35-6 Conversion into stock or mutual life insurance company - Certificates
of incorporation and authority. The society shall have corporate existence as a domestic stock
or mutual life insurer upon issuance of the certificate of incorporation by the commissioner
or approval of the amended articles of incorporation, as the case may be; but it shall not
transact business as an insurer until all its authorized capital stock, if a stock insurer,
has been subscribed and paid in full and it has otherwise qualified for, and received from
the commissioner, a certificate of authority as provided in this title for legal reserve insurers.
(Acts 1971, No. 407, p. 707, §732.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-35-6.htm - 988 bytes - Match Info - Similar pages

8-32-8
Section 8-32-8 Cancellation of reimbursement insurance policy. To the extent applicable,
an insurer that issued a reimbursement insurance policy shall not terminate the policy until
a notice of termination in accordance with Chapter 40 of Title 27 has been mailed or delivered
to the commissioner. The termination of a reimbursement insurance policy shall not reduce
the issuer's responsibility for service contracts sold by providers which it insured prior
to the date of the termination. (Acts 1997, No. 97-445, p. 753, §8.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-32-8.htm - 831 bytes - Match Info - Similar pages

27-3-13
Section 27-3-13 Deposit requirements - Special deposit - Title insurers. (a) For authority
to transact such insurance in this state, a foreign title insurer shall have and maintain
on deposit in this state for the better protection of its guaranty holders and creditors,
resident in this state, under its contracts of title insurance, cash and securities eligible
under Section 27-6-3 having a value at all times of not less than $50,000.00. The deposit
shall be so made and maintained in trust with a bank or trust company located in this state,
approved by the commissioner, having a capital and surplus of not less than $500,000.00. (b)
At its option, a domestic title insurer may maintain a deposit in like manner, amount, character
and for like purposes as required for foreign insurers under subsection (a) of this section.
(c) Such deposits shall be subject to the applicable provisions of Chapter 6 of this title.
(Acts 1923, No. 485, p. 635; Acts 1971, No. 407, p. 707, §58.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-13.htm - 1K - Match Info - Similar pages

27-7-5
Section 27-7-5 Licenses - Qualifications. (a) An individual applying for a resident
insurance producer license shall make application to the commissioner on the Uniform Application,
and an individual applying for a service representative license shall make application to
the commissioner on the application prescribed by the commissioner, each declaring under penalty
of refusal, suspension, or revocation of the license that the statements made in the application
are true, correct, and complete to the best of the individual's knowledge and belief. Before
approving the application, the commissioner shall find that the individual has satisfied all
of the following: (1) The individual is at least 18 years of age. (2) The individual has not
committed any act that is a ground for denial, suspension, or revocation set forth in Section
27-7-19. (3) The individual has completed a prelicensing course of study for the lines of
authority for which the person has applied, consisting of 20 classroom...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-5.htm - 6K - Match Info - Similar pages