27-32-10
Section 27-32-10 Grounds - Ancillary liquidation of foreign insurers. The commissioner may apply to the court for an order appointing him as ancillary receiver of, and directing him to liquidate, the business of a foreign insurer having assets, business, or claims in this state upon the appointment in the domiciliary state of such insurer of a receiver, liquidator, conservator, rehabilitator, or other officer by whatever name called for the purpose of liquidating the business of such insurer. (Acts 1971, No. 407, p. 707, §629.)...
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27-34-8
Section 27-34-8 License - Foreign or alien societies - Suspension, revocation, or refusal. (a) When the commissioner upon investigation finds that a foreign or alien society transacting or applying to transact business in this state: (1) Has exceeded its powers; (2) Has failed to comply with any of the provisions of this chapter; (3) Is not fulfilling its contracts in good faith; or (4) Is conducting its business fraudulently or in a manner hazardous to its members or creditors or the public, he shall notify the society of his findings, state in writing the reasons for his dissatisfaction and require the society to show cause on a date named why its license should not be suspended, revoked, or refused. If on such date the society does not show good and sufficient cause why its authority to do business in this state should not be suspended, revoked, or refused, he may suspend or refuse the license of the society to do business in this state, until satisfactory evidence is furnished to...
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40-2A-11.1
Section 40-2A-11.1 Civil penalties for unethical tax preparation conduct. (a) For purposes of the individual income tax imposed by Chapter 18, if there is an understatement of liability on a return that would cause a tax return preparer to be subject to the penalties imposed by 26 U.S.C. §6694, except §6694(c), §6700, or §6701, and if any of the failures enumerated in 26 U.S.C. §6695, except §6695(e) and (g), occurs, the department may impose upon the tax return preparer a penalty in accordance with 26 U.S.C. §§6694(a), (b), (d), (e), and (f); §§6695(a), (b), (c), (d), and (f); §§6696(a) and (c), §6700, and §6701, as in effect from time to time. (b) For purposes of this section: (1) "Subject to this title" shall be substituted for references in the specified federal statutes to "imposed by subtitle A." (2) "Commissioner" will be substituted for references in the specified federal statutes to "secretary." (3) References in these federal statutes to federal district courts...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-2A-11.1.htm - 7K - Match Info - Similar pages
27-34-47
Section 27-34-47 Service of process. (a) Every society authorized to do business in this state shall appoint, in writing, the commissioner and each successor in office to be its true and lawful attorney upon whom all lawful process in any action or proceeding against it shall be served and shall agree, in such writing, that any lawful process against it which is served on said attorney shall be of the same legal force and validity as if served upon the society and that the authority shall continue in force so long as any liability remains outstanding in this state. Copies of such appointment, certified by the commissioner, shall be deemed sufficient evidence thereof and shall be admitted in evidence with the same force and effect as the original thereof might be admitted. (b) Service shall only be made upon the commissioner or, if absent, upon the person in charge of his office. It shall be made in duplicate and shall constitute sufficient service upon the society. When legal process...
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37-5-8
Section 37-5-8 Bonds - Rights and remedies of bondholders. In addition to all other remedies, any holder of a bond of any district incorporated under this chapter, including a trustee for bondholders, shall have the right, subject to any contractual limitations binding upon such bondholders or trustee and subject to the prior or superior rights of others: (1) By mandamus or other action or proceedings to enforce his rights against such district and the board of such district, including the right to require such district and such board to fix and collect rates and charges adequate to carry out any agreement as to, or pledge of, the revenues produced by such rates or charges, and to require such district and such board to carry out any other covenants and agreements with such bondholder and to perform its and their duties under this chapter. (2) By civil action to enjoin any acts or things which may be unlawful or a violation of the rights of such bondholder. (3) By civil action to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-5-8.htm - 2K - Match Info - Similar pages
2-31-15
Section 2-31-15 Judicial review of ruling of commissioner; appeal from circuit court. Within 10 days after the conclusion of the hearing the commissioner shall notify all parties of his ruling. Said notification shall be in writing. Within 30 days after notification any party may appeal the commissioner's ruling to the Circuit Court of Montgomery County. The appeal shall be heard only on the certified record of the hearing and the commissioner's ruling shall be considered prima facie just and correct and shall not be overturned unless the circuit court finds that the commissioner's action was arbitrary and capricious, not supported by the weight of the evidence or that the commissioner erred to the prejudice of the appellant's substantial rights in his application of the law. Appeals from action by the circuit court shall be directly to the Alabama Court of Civil Appeals and no security for costs shall be required of the commissioner. (Acts 1981, No. 81-391, p. 611, §15.)...
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27-32-16
Section 27-32-16 Conduct of delinquency proceedings - Foreign insurers. (a) Whenever under this chapter an ancillary receiver is to be appointed in delinquency proceedings for an insurer not domiciled in this state, the court shall appoint the commissioner as ancillary receiver. The commissioner shall file a petition requesting the appointment on the grounds set forth in Section 27-32-10: (1) If he finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver; or (2) If 10 or more persons, resident in this state, having claims against such insurer, file a petition with the commissioner requesting the appointment of such ancillary receiver. (b) The domiciliary receiver, for the purpose of liquidating an insurer domiciled in a reciprocal state, shall be vested by operation of law with the title to all of the property, contracts, and rights of action and all of the books and records of the insurer located in this state, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-16.htm - 2K - Match Info - Similar pages
27-11-4
Section 27-11-4 Actions and proceedings against violating or noncomplying insurers. Whenever the commissioner believes, from evidence satisfactory to him, that any insurer is violating or not complying with the provisions of this unauthorized insurers law, the commissioner may, and is hereby empowered to, bring an action or proceeding against such insurer in the Circuit Court of Montgomery County, Alabama, to enjoin or restrain such violation or continuing noncompliance or the engaging therein or doing of any act in furtherance of such violation. The Circuit Court of Montgomery County, Alabama, shall have jurisdiction of the proceedings and shall have the power and authority to make and enter such order or judgment as to such court shall be deemed proper. (Acts 1971, No. 407, p. 707, §223.)...
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27-32-6
Section 27-32-6 Grounds - Rehabilitation of domestic insurers. The commissioner may apply to the court for an order appointing him as receiver of, and directing him to rehabilitate, a domestic insurer upon one or more of the following grounds. That the insurer: (1) Is impaired or insolvent; (2) Has refused to submit any of its books, records, accounts, or affairs to reasonable examination by the commissioner; (3) Has concealed or removed records or assets or otherwise violated Section 27-27-29; (4) Has failed to comply with an order of the commissioner to make good an impairment of capital or surplus, or both; (5) Has transferred, or attempted to transfer, substantially its entire property or business or has entered into any transaction the effect of which is to merge substantially its entire property or business in that of any other insurer without having first obtained the written approval of the commissioner; (6) Has willfully violated its charter or articles of incorporation or any...
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39-7-25
Section 39-7-25 Rights and remedies of bondholders. In addition to all other rights and all other remedies any holder or holders of any bond or bonds of any authority incorporated under this chapter, including a trustee for bondholders, shall have, subject to any contractual limitations binding upon such bondholder or holders or trustee, and subject to the prior or superior rights of others the following rights: (1) To institute a civil action on the bonds; (2) To enforce his rights by mandamus or other civil action or proceeding against such authority and the board of trustees of such authority, including the right to require such authority and such board of trustees to fix and collect rates and charges adequate to carry out any agreement as to or pledge of the revenues produced by such rates or charges and to require such authority and such board to carry out any other covenants and agreements with such bondholder and to perform its and their duties under this chapter; (3) To require...
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