8-33-6
Section 8-33-6 Conditions for policies. No warranty reimbursement insurance policy shall be
issued, sold, or offered for sale in this state unless the policy meets the following conditions:
(1) The policy states that the issuer of the policy will reimburse or pay on behalf of the
vehicle protection product warrantor all covered sums which the warrantor is legally obligated
to pay or will provide all service that the warrantor is legally obligated to perform according
to the warrantor's contractual obligations under the provisions of the insured warranties
sold by the warrantor. (2) The policy states that in the event payment due under the terms
of the warranty is not provided by the warrantor within 60 days after proof of loss has been
filed according to the terms of the warranty by the warranty holder, the warranty holder may
file directly with the warranty reimbursement insurance company for reimbursement. (3) The
policy provides that a warranty reimbursement insurance company that...
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27-12-13
Section 27-12-13 Life, annuity, and disability insurance - Exceptions to discrimination, rebates,
or special inducements. Nothing in Sections 27-12-11 and 27-12-12 shall be construed as including
within the definition of discrimination, rebates, or special inducements any of the following
practices: (1) In the case of any contract of life insurance or annuity, paying bonuses to
policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated
from nonparticipating insurance, provided, that any such bonuses or abatement of premiums
is fair and equitable to policyholders and for the best interests of the insurer and its policyholders;
(2) In the case of life or disability insurance policies issued on the industrial debit or
weekly premium plan, making allowance to policyholders who have continuously for a specified
period made premium payments directly to an office of the insurer in an amount which fairly
represents the saving in collection expense; (3)...
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27-16-3
Section 27-16-3 Policy provisions - Generally. (a) No policy of industrial life insurance shall
be delivered or be issued for delivery in this state unless it contains in substance the applicable
provisions set forth in Sections 27-16-4 through 27-16-14. (b) This section does not apply
to burial insurance policies as defined in Section 27-17-1. (Acts 1971, No. 407, p. 707, §377.)...

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27-19-32
Section 27-19-32 Examination and return of policy. Every individual disability insurance policy,
except single premium nonrenewable policies or contracts, issued for delivery in the State
of Alabama shall have printed thereon, or attached thereto, a notice stating in substance
that the person to whom the policy is issued shall be permitted to return the policy within
10 days of its delivery to such purchaser and to have the premium paid refunded if, after
examination of the policy, the purchaser is not satisfied with it for any reason. If a policyholder
or purchaser, pursuant to such notice, returns the policy or contract to the insurer at its
home or branch office or to the agent through whom it was purchased, it shall be void from
the beginning and the parties shall be in the same position as if no policy or contract has
been issued. (Acts 1957, No. 597, p. 834; Acts 1971, No. 407, p. 707, §452.)...
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27-30-34
Section 27-30-34 Provision of domestic life and disability insurance pursuant to Chapter 3.
Mutual aid associations organized and authorized under the provisions of this chapter are,
in addition to those authorizations and responsibilities stated in Sections 27-17-16, 27-30-1,
27-30-31, 27-30-33, and 27-36-7, entitled to provide insurance policies and contracts as are
authorized domestic life and disability insurers pursuant to Chapter 3 of Title 27, subject
to the limits on the size and types of risks to be insured as stated in Section 27-30-15 and
Section 27-30-6.1. (Acts 1989, No. 89-686, p. 1351.)...
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27-35-10
Section 27-35-10 Conversion into stock or mutual life insurance company - Obligation to holders
of policies or certificates; pending actions. (a) The reorganized and converted corporation
shall be obligated to carry out and perform all of the obligations of every kind and character
owing by the former fraternal benefit society to the holders of its policies or beneficial
certificates, and the same may be enforced against it to the same extent as if the policies
and beneficial certificates had been issued by it after such conversion. (b) Any pending actions
wherein the former fraternal benefit society was a party shall be unaffected by the conversion
thereof and shall be prosecuted by or against such reorganized and converted corporation the
same as if the conversion had not taken place. (Acts 1927, No. 537, p. 624; Acts 1971, No.
407, p. 707, §736.)...
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27-36A-2
Section 27-36A-2 Definitions. For purposes of this chapter, the following definitions shall
apply on or after the operative date of the valuation manual as defined by Section 27-36A-15:
(1) ACCIDENT AND HEALTH INSURANCE. Contracts that incorporate morbidity risk and provide protection
against economic loss resulting from accident, sickness, or medical conditions and as may
be specified in the valuation manual. (2) APPOINTED ACTUARY. A qualified actuary who is appointed
in accordance with the valuation manual to prepare the actuarial opinion required in subsection
(b) of Section 27-36A-4. (3) COMPANY. An entity, which (i) has written, issued, or reinsured
life insurance contracts, accident and health insurance contracts, or deposit-type contracts
in this state and has at least one such policy in force or on claim or (ii) has written, issued,
or reinsured life insurance contracts, accident and health insurance contracts, or deposit-type
contracts in any state and is required to hold a...
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27-41-24
Section 27-41-24 Particular investments - Loans secured by pledges of securities or pledges
or assignments of life insurance policies. An insurer may invest in loans with a maturity
not in excess of five years from the date thereof which are secured by pledge of securities
eligible for investment under this chapter or by the pledge or assignment of life insurance
policies issued by insurers authorized to transact insurance in this state. On the date made,
no such loan shall exceed in amount 75 percent of the market value of the collateral pledged;
except, that loans upon the pledge of United States government bonds and loans upon the pledge
or assignment of life insurance policies shall not exceed 95 percent of the market value of
the bonds or the cash surrender value of the policies pledged. The amount so loaned shall
be included in the maximum amount of funds permitted under this chapter to be invested in
a single person. (Acts 1977, No. 408, p. 530, §24.)...
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27-12-12
Section 27-12-12 Life, annuity, and disability insurance - Agreements not expressed in contract,
rebates, and other inducements. (a) No person shall knowingly permit or offer to make, or
make, any contract of life insurance, annuity or disability insurance or agreement as to such
contract other than as plainly expressed in the contract issued thereon, or pay or allow,
or give or offer to pay, allow or give, directly or indirectly, as an inducement to such insurance
or annuity any rebate of premiums payable on the contract, or any special favor or advantage
in the dividends or other benefits thereon, or any paid employment or contract for services
of any kind, or any valuable consideration or inducement whatever not specified in the contract,
or, directly or indirectly, give, or sell, or purchase, or offer, or agree to give, sell,
purchase, or allow as inducement to such insurance or annuity or in connection therewith,
and whether or not to be specified in the policy or contract, any...
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27-30-16
Section 27-30-16 Contracts - Annual valuation - Benefits payable in cash. (a) The commissioner
shall each year compute the net value as of December 31 of the preceding year of all benefits
payable in cash under all outstanding contracts or policies of each mutual aid association.
Such valuation shall be made upon the basis of the "combined experience" or "actuaries
table" or "the American experience table" rate of mortality (Illinois standard
of valuation), with interest at the rate of four percent per annum. The aggregate net value
so ascertained of such contracts or policies of the association shall be deemed its liability
on account of such cash benefits, other than accrued claims, for the purpose of any determination
of its financial condition. (b) Funds of the association in amount not less than the value
of such benefits, as valued under this section, shall be held by the association in cash or
in investments as authorized under Section 27-30-20. (Acts 1935, No. 114, p. 165; Acts...

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