27-40-12
Section 27-40-12 Return of gross unearned premiums upon cancellation of contract. (a) Whenever a financed insurance contract is cancelled, the insurer shall return whatever gross unearned premiums are due under the insurance contract to the premium finance company, either directly or via the agent or surplus lines broker placing the insurance, for the account of the insured or insureds as soon as reasonably possible, but in any event no later than 30 days after the effective date of cancellation. (b) In the event that the crediting of return premiums to the account of the insured results in a surplus over the amount due from the insured, the premium finance company shall refund the excess to the insured or the agent or surplus lines broker, within 30 days after receipt by the premium finance company with the check or draft made payable to the agent or surplus lines broker and to the insured, provided that no refund shall be required if it amounts to less than one dollar ($1). (Acts...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-40-12.htm - 1K - Match Info - Similar pages
41-10-273
Section 41-10-273 Security for bonds; collection and application of revenues pledged to payment of bonds; terms of leases of judicial facilities; maintenance and insurance of judicial facilities; reserve and other funds; rights of holders of bonds upon default. Any resolution of the board of directors authorizing the issuance of bonds may contain any provision or agreement customarily contained in instruments securing evidences of indebtedness, including, without limiting the generality of the foregoing, a pledge, transfer or assignment of any leases of any judicial facilities out of the revenues from which such bonds are payable and a pledge of such revenues. Any such resolution may also contain provisions respecting the collection and application of any revenues pledged to the payment of the authority's bonds, the terms to be incorporated in lease agreements respecting judicial facilities out of the revenues from which such bonds are payable, the maintenance of and insurance on such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-273.htm - 2K - Match Info - Similar pages
16-22-5
Section 16-22-5 Authority of school boards to form groups for purpose of obtaining group insurance; payment of insurance premiums. Each local board of education may form its employees into a group or groups or recognize existing groups for the purpose of obtaining the advantages of group life, disability, medical and dental insurance or any group insurance plans to aid its employees, as long as the employees continue to be employed by the board of education. Any local board of education may pay all or part of the premium on the policies and/or may deduct from the salaries of the employees that part of the premium which is to be paid by them and may contract with the insurer to provide the above benefits. (Acts 1973, No. 655, p. 984, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-22-5.htm - 1K - Match Info - Similar pages
25-5-335
Section 25-5-335 Types of tests; procedures for specimen collection and testing; laboratory; confirmation of tests. (a) An employer is required to conduct the following types of tests in order to qualify for the workers' compensation insurance premium discounts provided under this article: (1) An employer shall require job applicants to submit to a substance abuse test after extending an offer of employment. Limited testing of job applicants by an employer shall qualify under this article if the testing is conducted on the basis of reasonable classifications of job positions. (2) An employer shall require an employee to submit to reasonable suspicion testing. (3) An employer shall require an employee to submit to a substance abuse test if the test is conducted as part of a routinely scheduled employee fitness-for-duty medical examination that is part of the employer's established policy or that is scheduled routinely for all members of an employment classification or group. (4) If the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-335.htm - 8K - Match Info - Similar pages
27-28-4
Section 27-28-4 Effect of chapter on powers of commissioner and authority to engage in insurance business. Nothing contained in this chapter shall affect the power of the commissioner to regulate, supervise, and control insurance companies pursuant to the laws of the State of Alabama governing such companies, nor shall anything in this chapter be construed to authorize any insurance company to engage in any kind, or kinds, of insurance business not authorized by its charter or to authorize any holding company which is not an insurance corporation to engage directly in the business of insurance. Subsequent to the effective date of any plan of exchange, the commissioner, having due regard to the findings stated in subdivision (2) of Section 27-28-2, shall have authority to require that the affairs of the domestic company be conducted in such manner as to assure the continued safe conduct and transaction of the business of insurance of the domestic company. (Acts 1971, No. 1449, p. 2472.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-28-4.htm - 1K - Match Info - Similar pages
27-31C-4
Section 27-31C-4 Issuance of license - Requirements. (a)(1) The commissioner may not issue a license to an Alabama Coastal Captive Insurance Company unless the company possesses and maintains unimpaired paid-in capital of not less than one million dollars ($1,000,000); however, in the case of an Alabama Coastal Captive Insurance Company formed as a sponsored captive insurance company that does not assume any risk, where the risks insured by the protected cells are homogenous, the commissioner may reduce this amount to an amount not less than five hundred thousand dollars ($500,000). (2) a. Except for an Alabama Coastal Captive Insurance Company formed as a sponsored captive insurance company that does not assume any risk, the capital must be in the form of cash, cash equivalent, or an irrevocable letter of credit issued by a bank chartered by this state or a member bank of the Federal Reserve System with a branch office in this state or as approved by the commissioner. b. For an...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31C-4.htm - 3K - Match Info - Similar pages
41-10-469
Section 41-10-469 Use of proceeds of refunding bonds. The proceeds of refunding bonds shall be applied, together with any other moneys legally available therefor, to the payment of the expenses authorized by this article and to the payment of the principal of, premium, if any, and interest due and to become due on any outstanding bonds to be refunded thereby and, if so required by resolution of the authority, shall be deposited in the State Treasury in an interest account to pay interest on refunding bonds, and in the State Treasury in a reserve account to further secure the payment of the principal of, premium, if any, and interest on any refunding bonds. The expenses authorized by this article shall include, in addition to expenses authorized by other sections hereof, all expenses that the board of directors may deem necessary or advantageous in connection with the sale and issuance of such refunding bonds, including without limitation, the expenses of selling and issuing such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-469.htm - 7K - Match Info - Similar pages
11-81-169
Section 11-81-169 Revenue bonds - Disposition of proceeds from sale - Generally. The governing body, where practicable, shall require that the proceeds of the sale of bonds issued under the provisions of this article be deposited in a special account or accounts in a bank or banks which are members of the federal reserve system and shall require, insofar as practicable, that each such deposit be secured by United States government securities having an aggregate market value at least equal to the sum at the time on deposit, or, in any event, the proceeds shall be deposited in some bank or other depository either within or without the state which will secure such deposit satisfactorily to said governing body. (Acts 1933, Ex. Sess., No. 102, p. 88; Code 1940, T. 37, §320.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-169.htm - 1K - Match Info - Similar pages
11-92A-23
Section 11-92A-23 Special reserve funds and applications for appropriations. (a) In addition to all other powers at any time conferred upon an authority by law, an authority may, in connection with the issuance of any bonds hereunder, create and establish one or more special debt service reserve funds (a "debt service reserve fund"), and may pay or cause to be paid into each debt service reserve fund (i) proceeds from bonds issued pursuant hereto to the extent provided by the authority authorizing the issuance thereof; (ii) any moneys appropriated and made available by the Legislature for the purpose of such fund; and (iii) any other moneys that may be made available to the authority from any other source for the purpose of such fund. All moneys held in a debt service reserve fund shall be used solely for the payment of the principal of, premium, if any, and interest on bonds secured, in whole or in part, by that fund when and as the same become due and payable as provided in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-92A-23.htm - 7K - Match Info - Similar pages
16-25A-17
Section 16-25A-17 Partial funding of health insurance coverage for retired employees; method of determining amount; provisions supplemental. (a)(1) Any premiums paid to the Public Education Employees' Health Insurance Board for active employees shall include an amount to partially fund the cost of coverage for retired employees. Notwithstanding the foregoing, if the plan becomes fully funded pursuant to this article, this section shall not apply. (2) The amount authorized by subdivision (1) of this subsection shall not be less than an amount determined by multiplying the number of retired employees by an individual retired employee rate. The individual retired employee rate shall be determined by multiplying the full cost of coverage for a retired employee eligible to receive benefits under the federal Medicare program times the fractional amount derived by dividing the current individual premium for an employee not eligible for benefits under the federal Medicare program by the full...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25A-17.htm - 2K - Match Info - Similar pages
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