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27-3-14
Section 27-3-14 Deposit requirements - Alien insurers - Generally. (a) An alien insurer shall
not have authority to transact insurance in this state unless it has and maintains within
the United States as deposits with trustees, public depositaries or in trust institutions
approved by the commissioner under Section 27-3-15 assets available for discharge of its United
States insurance obligations, which assets shall be in amount not less than the outstanding
liabilities of the insurer arising out of its insurance transactions in the United States
together with the greater of the following sums: (1) The largest deposit required by Section
27-3-11 to be made by foreign insurers transacting like kinds of insurance; or (2) $300,000.00.
(b) Of the amount deposited by an alien insurer, an amount not less than that required under
subdivisions (a)(1) or (a)(2) of this section shall be deposited and maintained on deposit
in cash or securities eligible for deposit under Section 27-6-3 with the...
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27-30-3
Section 27-30-3 Applicability of chapter - Exceptions. The designation "mutual aid association"
and this chapter do not apply as to: (1) Any secret or benevolent society, such as Masons,
Odd Fellows, Knights and Ladies of Honor, Knights of Pythias, or like orders and societies,
or any association organized and operating in good faith under the lodge system for purely
benevolent purposes and with a ritualistic form of work; (2) Agreements between hospitals
and industrial corporations to provide for hospital services for the employees of such corporations,
and the employment by such corporations of medical doctors, surgeons and dentists for the
purpose of giving medical, surgical and dental attention to such employees; or (3) Any insurer
operating under, or subject to, the general insurance laws of this state. (Acts 1927, No.
548, p. 634; Acts 1935, No. 114, p. 165; Acts 1971, No. 407, p. 707, ยง559.)...
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35-12-72
Section 35-12-72 Presumption of abandonment. (a) Property is presumed abandoned if it is unclaimed
by the apparent owner during the time set forth below for the particular property: (1) Traveler's
checks, 15 years after issuance. (2) Money order, five years after issuance. (3) A demand,
savings, or time deposit including a deposit that is automatically renewable, three years
after the earlier of maturity, as extended from time to time, or the date of the last indication
by the apparent owner of interest in the property. (4) Tangible and intangible property held
in a safe deposit box or other safekeeping depository in this state in the ordinary course
of the holder's business and proceeds resulting from the sale of the property permitted by
other law, three years after expiration of the lease or rental period on the box or other
depository. (5) Money or credits owed to a customer as a result of a retail business transaction,
one year after the obligation accrued. (6) Property in an...
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41-15-10
Section 41-15-10 Premiums and collected earnings to constitute trust fund; surplus may be invested
in bonds, stocks, mutual funds, etc.; limitations and conditions; requisition for payment
of losses, expenses, etc. All premiums and earnings collected under the provisions of this
chapter shall constitute a trust fund to be applied as authorized in this chapter. With the
approval of the Governor, any surplus in the fund over a necessary working capital, which
shall be determined by the Director of Finance, at not less than $400,000.00, may be invested
in the bonds or other obligations of the United States, of the State of Alabama or of any
agency, institution or instrumentality of the State of Alabama. The Director of Finance shall
also have the authority to invest and reinvest said state insurance trust funds in such classes
of bonds, mortgages, common and preferred stocks, shares of investment companies or mutual
funds or other investments as the Finance Director with the consent of...
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43-8-70
Section 43-8-70 Right of surviving spouse to elective share. (a) If a married person domiciled
in this state dies, the surviving spouse has a right of election to take an elective share
of the estate. The elective share shall be the lesser of: (1) All of the estate of the deceased
reduced by the value of the surviving spouse's separate estate; or (2) One-third of the estate
of the deceased. (b) The "separate estate" of the surviving spouse shall include:
(1) All property which immediately after the death of the decedent is owned by the spouse
outright or in fee simple absolute; (2) All legal and equitable interests in property the
possession or enjoyment of which are acquired only by surviving the decedent; and (3) All
income and other beneficial interests: a. Under a trust; b. In proceeds of insurance on the
life of the decedent; and c. Under any broad-based nondiscriminatory pension, profit-sharing,
stock bonus, deferred compensation, disability, death benefit or other such plan...
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10A-20-7.11
Section 10A-20-7.11 Loans to corporation by members. Each member of the corporation shall make
loans to the corporation as and when called upon by it to do so on the terms and other conditions
as shall be approved from time to time by the board of directors, subject to the following
conditions: (1) All loan limits shall be established at the one thousand dollars ($1,000)
amount nearest to the amount computed in accordance with the provisions of this section. (2)
No loan to the corporation shall be made if immediately thereafter the total amount of the
obligations of the corporation would exceed 50 times the amount then paid in on the outstanding
capital stock of the corporation. (3) The total amount outstanding on loans to the corporation
made by any member at any one time, when added to the amount of the investment in the capital
stock of the corporation then held by the member, shall not exceed: a. Twenty percent of the
total amount then outstanding on loans to the corporation by all...
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22-8A-9
Section 22-8A-9 Withholding or withdrawal of treatment, etc., not suicide; execution of advance
directive not to affect sale, etc., of life or health insurance nor be condition for receipt
of treatment, etc.; provisions of chapter cumulative. (a) The withholding or withdrawal of
life-sustaining treatment or artificially provided nutrition and hydration from a patient
in accordance with the provisions of this chapter shall not, for any purpose, constitute a
suicide and shall not constitute assisting suicide. (b) The making of an advance directive
for health care pursuant to this chapter shall not affect in any manner the sale, procurement,
or issuance of any policy of life or health insurance, nor shall it be deemed to modify the
terms of an existing policy of life or health insurance. No policy of life or health insurance
shall be legally impaired or invalidated in any manner by the withholding or withdrawal of
life-sustaining treatment or artificially provided nutrition and hydration...
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27-4A-2
Section 27-4A-2 Definitions. For the purposes of this chapter only, the following terms, unless
the context clearly indicates otherwise, shall have the meanings: (1) ANNUITY CONSIDERATIONS.
All sums received as consideration for annuity contracts. (2) COMMISSIONER. The Commissioner
of Insurance of the State of Alabama. (3) DEPARTMENT. The Department of Insurance of the State
of Alabama. (4) DOMESTIC INSURER. Any insurer organized under the laws of the State of Alabama
which maintains its principal office and chief place of business in the State of Alabama.
(5) FOREIGN INSURER. Any insurer organized under the laws of any country or of any state of
the United States other than the State of Alabama and any insurer organized under the laws
of Alabama which maintains its principal office or chief place of business outside the State
of Alabama. (6) INSURER. Every insurer as defined in Section 27-1-2, and every other insurance
company or association charging a premium for contracts entered...
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27-60-2
Section 27-60-2 Interstate Insurance Product Regulation Compact. The State of Alabama hereby
agrees to the following interstate compact known as the Interstate Insurance Product Regulation
Compact: ARTICLE I. PURPOSES. The purposes of this compact are, through means of joint and
cooperative action among the compacting states: 1. To promote and protect the interest of
consumers of individual and group annuity, life insurance, disability income, and long-term
care insurance products; 2. To develop uniform standards for insurance products covered under
the compact; 3. To establish a central clearinghouse to receive and provide prompt review
of insurance products covered under the compact and, in certain cases, advertisements related
thereto, submitted by insurers authorized to do business in one or more compacting states;
4. To give appropriate regulatory approval to those product filings and advertisements satisfying
the applicable uniform standard; 5. To improve coordination of...
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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...
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