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27-13-40
Section 27-13-40 Suspension of license or certificate of authority. Any rating organization
which violates any provisions of this article shall be subject to suspension of its license,
and any insurer making its own rates which violates any provision of this article shall be
subject to suspension of its certificate of authority to do business in this state. Failure
of a rating organization, or insurer making its own rates, to comply with the provisions of
any order of the commissioner within 30 days after such order, or any extension thereof as
the commissioner may, in his discretion, grant shall automatically suspend the license of
such rating organization or insurer. (Acts 1945, No. 132, p. 133, §20; Acts 1971, No. 407,
p. 707, §277.)...
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27-13-78
Section 27-13-78 Suspension of license or certificate of authority. Any rating organization
which violates any provision of this article shall be subject to suspension of its license,
and any insurer making its own rates which violates any provisions of this article shall be
subject to suspension of its certificate of authority to do business in this state. Failure
of a rating organization or an insurer making its own rates to comply with the provisions
of any order of the commissioner within 30 days after such order, or any extension thereof,
as the commissioner may, in his discretion, grant shall automatically suspend the license
of such rating organization or insurer. (Acts 1945, No. 133, p. 145, §19; Acts 1971, No.
407, p. 707, §302.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-13-78.htm - 1K - Match Info - Similar pages
22-21-370
Section 22-21-370 Posting of securities or surety bond; custody of securities; exemption from
taxation; release of securities or bond; modification orders; hearing; effect of failure to
comply. (a) To assure the faithful performance of its obligations in the event of insolvency
each dental service corporation authorized under Section 22-21-364 shall, through the commissioner,
deposit and maintain with the Treasurer of the State Securities of the type eligible for deposit
by insurers under Section 27-6-3, which securities shall have at all times a market value
as follows: (1) A corporation which has operated no dental service plan in this state prior
to January 1, 1983, shall, prior to the issuance of its certificate of authority and before
receiving any subscription payments, place in trust with the Treasurer of the State, through
the commissioner an initial amount of $50,000.00; (2) A corporation operating a dental service
plan business in this state prior to January 1, 1983, and...
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27-3-32
Section 27-3-32 Domestic insurer may transfer domicile to another state and be admitted as
foreign insurer if so qualified; approval of Commissioner of Insurance; effect of interests
of policyholders; effect upon certificates of authority, agents, etc., including outstanding
policies; insurer's duty to file new policy forms; insurer's duty to notify commissioner of
details of transfer and file amendments required by law. The certificate of authority, agents
appointments and licenses, rates, and other items which the Commissioner of Insurance allows,
in his discretion, which are in existence at the time any insurer licensed to transact the
business of insurance in this state transfers its corporate domicile to this or any other
state by merger, consolidation or any other lawful method shall continue in full force and
effect upon such transfer if such insurer remains duly qualified to transact the business
of insurance in this state. All outstanding policies of any transferring insurer...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-32.htm - 2K - Match Info - Similar pages
27-43-9
Section 27-43-9 Bond or deposit requirements. (a) To assure the faithful performance of its
obligations in the event of insolvency, each corporation authorized under Section 27-43-8
shall, through the commissioner, deposit and maintain with the Treasurer of the State securities
of the type eligible for deposit by insurers under Section 27-6-3, which securities shall
have at all times a market value as follows: (1) An insurer which has transacted no legal
expense insurance in this state prior to January 1, 1982, shall, prior to the issuance of
its certificate of authority and before receiving any premiums, place in trust with the Treasurer
of the State, through the commissioner an initial amount of $50,000.00; (2) An insurer transacting
a legal expense insurance business in this state prior to January 1, 1982, and having in force
in this state less than $300,000.00 of gross written premiums, membership fees, or similar
charges shall place in trust with the Treasurer of the State,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-43-9.htm - 4K - Match Info - Similar pages
27-27-50
Section 27-27-50 Extinguishment and nullification of domestic insurers' corporate charter.
(a) The corporate charter of any corporation formed under the laws of this state more than
three years prior to January 1, 1972, for the purpose of becoming an insurer and which corporation
within such three-year period has not actively engaged in business as a domestic insurer under
a certificate of authority issued to it by the commissioner under laws then in force is hereby
extinguished and nullified. (b) The corporate charter of any other corporation formed under
the laws of this state for the purpose of becoming an insurer and which corporation during
any period of 36 consecutive months after January 1, 1972, is not actively engaged in business
as a domestic insurer under a certificate of authority issued to it by the commissioner under
laws currently in force is automatically hereby extinguished and nullified at the expiration
of such 36-month period. (c) The period during which any such...
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27-29-2
Section 27-29-2 Subsidiaries and affiliates of domestic insurers. (a) Authorization. A domestic
insurer, either by itself or in cooperation with one or more persons, may organize or acquire
one or more subsidiaries. The subsidiaries may conduct any kind of business or businesses
and their authority to do so shall not be limited by reason of the fact that they are subsidiaries
or affiliates of a domestic insurer. (b) Additional investment authority. In addition to investments
in common stock, preferred stock, debt obligations, and other securities permitted under all
other sections of this title, a domestic insurer may also: (1) Invest, in common stock, preferred
stock, debt obligations, and other securities of one or more subsidiaries, amounts which do
not exceed the lesser of 10 percent of such insurer's assets or 50 percent of the insurer's
surplus as regards policyholders, provided that after such investments, the insurer's surplus
as regards policyholders will be reasonable in...
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40-14A-2
Section 40-14A-2 Operating rules. (a) The taxpayer's net worth shall be determined for purposes
of the taxes levied by this chapter in accordance with the accounting principles used in preparing
the taxpayer's financial statements reported to its owners. If the taxpayer's financial statements
are not prepared in accordance with generally accepted accounting principles, then net worth
for such purposes shall be determined either on the same basis as it prepares its federal
income tax return or as required by the appropriate regulatory agencies having jurisdiction.
However, in the case of a taxpayer that is an insurer holding a certificate of authority to
conduct an insurance business within the State of Alabama, net worth for such purposes shall
be computed on the same basis as its financial statements are prepared in accordance with
the requirements of the State of Alabama Insurance Department. (b) Net worth may be determined
from the taxpayer's financial statements for its...
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40-25-2
Section 40-25-2 Who is liable for tax; amount; local tax or fee. (a) In addition to all other
taxes of every kind now imposed by law, every person, firm, corporation, club, or association,
within the State of Alabama, who sells or stores or receives for the purpose of distribution
to any person, firm, corporation, club, or association within the State of Alabama, cigars,
cheroots, stogies, cigarettes, smoking tobacco, chewing tobacco, snuff, or any substitute
therefor, either or all, shall pay to the State of Alabama for state purposes only a license
or privilege tax which shall be measured by and graduated in accordance with the volume of
sales of such person, firm, corporation, club, or association in Alabama. There is hereby
levied license or privilege taxes on articles containing tobacco enumerated in this article
in the following amounts: (1) LITTLE CIGARS. Upon cigars of all descriptions, including filtered
cigars, made of tobacco, or any substitute therefor, and weighing not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-25-2.htm - 8K - Match Info - Similar pages
45-37A-54.61
Section 45-37A-54.61 Certificate of incorporation - Contents. A certificate of incorporation
shall be entitled and endorsed Certificate of Incorporation of ___ Authority. (Blank space
being filled in with the name of the authority) and shall state the name of the authority;
the location of its principal office and post office address thereof; the names of six directors
who shall be the managers and officers of the authority until their successors are chosen,
and who shall serve from the date of incorporation without compensation; the period, if any,
for the duration of the authority; if the duration of the authority is to be perpetual, this
fact shall be stated; the certificate of incorporation of such authority may also contain
any provision not contrary to law which the incorporators may choose to insert for the regulation
of business for the conduct of the affairs of the authority; and any provisions creating,
defining, limiting, or regulating the powers of the authority, its...
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