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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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36-32-3
Section 36-32-3 Officers; powers and duties; compensation; expenditures and revenues; education
and training; facilities. (a) The commission shall elect a chairman and a vice-chairman from
among its members at the first regular quarterly meeting of the calendar year. (b) The commission
may do all of the following: (1) Organize the Alabama Fire College by appointing an executive
director, assistant directors, and such officers as the interest of the Alabama Fire College
may require. (2) Remove the executive director or any assistant or other officer. (3) Fix,
increase, or reduce the compensation of the executive director or any assistant or other officer.
(4) Institute, regulate, alter, or modify the government of the Alabama Fire College as the
commission may deem advisable. (5) Prescribe courses of instruction related to the mission
of the Alabama Fire College. (6) Establish the cost of any prescribed course of study related
to the mission of the Alabama Fire College. (7) Confer...
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39-1-1
Section 39-1-1 Bonds required of persons contracting for public works; commencement, etc.,
of actions upon bond by persons supplying labor, etc., to contractor; offer to accept judgment;
notice of completion of project by contractor and final settlement; applicability. (a) Any
person entering into a contract with an awarding authority in this state for the prosecution
of any public works shall, before commencing the work, execute a performance bond, with penalty
equal to 100 percent of the amount of the contract price. In addition, another bond, payable
to the awarding authority letting the contract, shall be executed in an amount not less than
50 percent of the contract price, with the obligation that the contractor or contractors shall
promptly make payments to all persons supplying labor, materials, or supplies for or in the
prosecution of the work provided in the contract and for the payment of reasonable attorneys'
fees incurred by successful claimants or plaintiffs in civil...
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16-47-79
Section 16-47-79 Repayment of loans. (a) Scholarships extended under subdivisions (1) and (3)
of subsection (a) of Section 16-47-78 shall be repaid following graduation either in cash
as is provided under subsection (b) or under the terms of a contract to serve in a needy area
in Alabama for a term to be specified by the board as provided in subsection (c). Any moneys
received from recipients in repayment of a scholarship loan under subsections (b) and (c)
shall upon receipt thereof be retained by the Board of Scholarship Awards to be used for funding
of future scholarships. The board shall establish a separate fund for these purposes. (b)
Scholarship loans to be repaid under this subsection shall be repaid to the Board of Dental
Scholarship Awards in full at an interest rate of six percent per annum from the date of graduation
from dental school. Payments are to be made annually, the first of which is due one year after
the recipient enters the practice of dentistry or one year after...
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19-3B-508
Section 19-3B-508 Qualified trusts under the Internal Revenue Code. (a) As used in this section:
(1) ASSIGNMENT or ALIENATION, and any conjugation thereof, includes any anticipation, assignment
at law or in equity, alienation, attachment, garnishment, levy, execution, or other legal
or equitable process. The term includes: (i) any arrangement providing for the payment to
the employer or other sponsor of such plan of benefits that otherwise would be due the participant
under the plan; (ii) any direct or indirect arrangement, whether revocable or irrevocable,
whereby any person acquires from a participant or beneficiary of such plan a right or interest
enforceable against the plan in, or to, all or any part of a plan benefit which is, or may
become, payable to the participant or beneficiary; (iii) any attachment, execution, seizure,
or the like, or under any form of legal process whatsoever; and (iv) the operation of any
bankruptcy or insolvency laws under 11 U.S.C. ยง 522(b) as from...
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36-15-4.2
Section 36-15-4.2 Attorney General's Litigation Support Fund. (a) There is established in the
State Treasury a special fund to be known as the Attorney General's Litigation Support Fund.
(b) The fund shall consist of any and all monies designated by a court order as reasonable
attorney fees and related expenses or negotiated fees and related expenses for matters settled
out of court, and penalties paid in certain cases received by the Attorney General pursuant
to this section as a result of any fees, fines, restitution, forfeitures, penalties, costs,
interest, or judgments collected pursuant to any civil litigation, or any administrative proceedings,
or in settlement of any claim asserted by or against the people of Alabama, the State of Alabama,
or any of its departments, agencies, institutions, officers, employees, or political subdivisions
thereof. Notwithstanding the foregoing, the fees, fines, restitution, forfeitures, penalties,
costs, interest, or judgements shall not be...
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41-16A-5
Section 41-16A-5 Permissible contract provisions; general and limited obligation distinction
may be made; allowable pledge payment sources; classification of entity's contracting and
contracts. (a) Alternative financing contracts may be for such term, provide for such renewal
or extension options, provide for such terminating events, provide for the payment of such
rentals, purchase installments, purchase price, and other amounts, and contain such other
terms, provisions, and conditions as the governmental entity shall deem appropriate, and without
limitation to the generality of the foregoing, may contain terms and conditions substantially
similar to any one or more of the following: (1) Provisions for the automatic renewal of the
alternative financing contract for one or more successive periods unless affirmative action
is taken by the governmental entity to terminate such alternative financing contract, and,
if desired, specifying the nature of such affirmative action sufficient to...
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45-49A-63.80
Section 45-49A-63.80 Benefit payments. (a) Benefits payable to a member under Section 45-49A-63.60,
Section 45-49A-63.61, or subsection (a) of Section 45-49A-63.62 shall be payable in monthly
installments beginning on the first day after the latest of (1) the day the member retires
or terminates his or her employment, (2) the board approves the member's benefit, or (3) the
member has elected an optional form of benefit in accordance with Section 45-49-63.82; however,
if a member's benefit had not commenced by the later of the first day following his or her
termination of employment as a uniformed officer or the April 1 following the calendar year
in which he or she attains age 70 1/2, he or she shall begin to receive his or her benefit
on such date in accordance with Option 1 in Section 45-49A-63.81 if he or she is not married
on such date or in accordance with the 50 percent survivor benefit in Option 2 of Section
45-49A-63.81 with his or her spouse as his or her beneficiary if he or...
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16-13-145
Section 16-13-145 Authority to borrow funds against revenues of current year; authority to
contract with T.V.A. to obtain funds to improve energy-inefficient school buildings with approval
of state superintendent. (a) Any local board of education shall have authority during any
fiscal year upon the recommendation of the local superintendent of education, as the case
may be, to borrow money in anticipation of the current revenues for that fiscal year and to
pledge the current revenues for said fiscal year for the payment of such loan or loans if
funds on hand are not sufficient to pay the salaries of teachers and to meet the current expenses
when due; provided, that the party or parties making such loan or loans to a local board of
education shall not be put upon inquiry as to the validity of such indebtedness because of
this provision. The total amount of such loans a local board of education may have outstanding
at any time during the fiscal year shall be determined as follows: From...
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27-15-7
Section 27-15-7 Life insurance policy provisions - Dividends. There shall be a provision in
participating policies that, beginning not later than the end of the third policy year, the
insurer shall annually ascertain and apportion the divisible surplus, if any, that will accrue
on the policy anniversary or other dividend date specified in the policy, provided the policy
is in force and all premiums to that date are paid. Except as provided in this section, any
dividend becoming payable shall, at the option of the party entitled to elect such option,
be either: (1) Payable in cash; or (2) Applied to any one of such other dividend options as
may be provided by the policy. If any such other dividend options are provided, the policy
shall further state which option shall be automatically effective if such party shall not
have elected some other option. If the policy specifies a period within which such other dividend
option may be elected, such period shall be not less than 30 days...
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