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27-40-8
Section 27-40-8 Contents and style of premium finance agreement. (a) The contents and style
of the premium finance agreement shall be as follows: (1) It shall be dated, signed by the
insured or an authorized representative and the printed portion thereof shall be in at least
eight-point type. (2) It shall contain the name and place of business of the insurance agent
negotiating the related insurance contract, the name and residence, or place of business,
of the insured as specified by the insured, the name and place of business of the premium
finance company to which payments are to be made, a description of the insurance contracts
or wind mitigation construction financing involved, and the amount of the premium or other
charges therefor. (3) It shall set forth the following items where applicable: a. The total
amount of the premiums and other approved charges. b. The amount of the down payment. c. The
principal balance, that being the difference between items a. and b. d. The amount...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-40-8.htm - 1K - Match Info - Similar pages
27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
27-17A-2
Section 27-17A-2 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) ALTERNATIVE CONTAINER. A nonmetal receptacle or enclosure, without ornamentation
or a fixed interior lining, which is designed for the encasement of human remains and which
is made of cardboard, pressed-wood, composition materials (with or without an outside covering),
or pouches of canvas or other materials. (2) ARRANGEMENT CONFERENCE. The meeting occurring
either at need or preneed between the seller and the purchaser during which funeral or cemetery
merchandise and services are discussed. (3) ARRANGEMENT CONFERENCE FEE. The charge to the
purchaser in conjunction with the arrangement conference. (4) AT NEED. At the time of death,
or immediately following death. (5) AUTHORIZING AGENT. One who is lawfully authorized to control
the final disposition of human remains. (6) BELOW-GROUND CRYPT. A preplaced enclosed chamber,
which is usually constructed of reinforced concrete,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17A-2.htm - 12K - Match Info - Similar pages
27-40-1
Section 27-40-1 Definitions. For the purposes of this chapter, the following words and phrases
shall have the following meanings: (1) INSURANCE PREMIUM FINANCE COMPANY. A person engaged
in the business of entering into premium finance agreements. (2) PREMIUM FINANCE AGREEMENT.
An agreement by which an insured or prospective insured promises to pay to a premium finance
company the amount advanced or to be advanced under the agreement to an insurer or to an insurance
agent or broker in payment of premiums on an insurance contract together with a service charge,
as authorized and limited by this chapter, and charges for wind mitigation construction financing,
as approved by the commissioner. (3) LICENSEE. A premium finance company holding a license
issued under this chapter. (4) PERSON. An individual, partnership, association, business corporation,
nonprofit corporation, common law trust, joint-stock company, or any other group of individuals
however organized. (5) INSURANCE CONTRACT. The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-40-1.htm - 1K - Match Info - Similar pages
27-10-35
Section 27-10-35 Report of, and tax on, independently procured coverages; exceptions. (a) Anyone
who may desire to place his insurance in a foreign insurer not authorized to do business in
this state may place such insurance, and any insured who in this state procures, or causes
to be procured, or continues or renews insurance in an unauthorized foreign insurer or any
self-insurer who in this state so procures or continues excess loss, catastrophe, or other
insurance, upon a subject of insurance resident, located or to be performed within this state,
other than insurance procured through a surplus line broker pursuant to the surplus lines
law of this state or exempted from such law under Section 27-10-34 shall, within 90 days after
the date such insurance was so procured, continued, or renewed, file a written report of the
same with the commissioner on forms designated by the commissioner and furnished to such an
insured upon request. The report shall show the name and address of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-35.htm - 3K - Match Info - Similar pages
41-15-4
Section 41-15-4 Value for which state property to be insured; annual certification; gap coverage
and gap plus coverage; survey of public property; sale or salvage of insured items. (a) All
covered property, unless otherwise provided in this section, shall be insured for no more
than its replacement cost and shall be insured for no less than 80 percent of its actual cash
value. Replacement cost coverage may be provided with an amount of insurance as agreed upon
by the proper insuring authority and the risk manager based upon a written statement of values.
Replacement cost shall be the cost to repair or replace property with comparable materials
of like kind and quality by generally accepted construction methods or technology to serve
the same function as the lost or damaged property. No payment for a loss shall exceed the
limit of the policy. (b) The officer or person having charge by law of insuring any public
building, contents, machinery, and equipment shall annually certify to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-15-4.htm - 6K - Match Info - Similar pages
5-20-3
Section 5-20-3 Definitions. Notwithstanding any other provision of law, for the purposes of
this chapter, the following terms shall have the meanings prescribed by this section: (1)
ALABAMA BANK. A bank which is organized under the laws of this state or of the United States
and which has its principal place of business in this state. (2) BANK. Any "insured bank"
as such term is defined in Section 3(h) of the Federal Deposit Insurance Act, 12 U.S.C. §1813(h).
(3) BANK HOLDING COMPANY. Any company which is a bank holding company under the Bank Holding
Company Act of 1956, as amended, 12 U.S.C. §1841(a). (4) CREDIT CARD. Any type of arrangement
or agreement pursuant to which any domestic lender or credit card bank, whether directly or
indirectly through any domestic lender acting as its agent, gives a debtor the privilege of
using a credit card or other credit confirmation, device or instrument of any type in transactions
out of which debt arises: a. By the domestic lender or credit...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-20-3.htm - 3K - Match Info - Similar pages
27-15-53
Section 27-15-53 Requirements for death master file comparisons. (a) An insurer shall perform
a comparison of its insureds' in-force life insurance policies, annuity contracts, and retained
asset accounts against a death master file, to identify potential death master file matches
of its insureds. Such comparison shall be completed by January 1, 2019. Thereafter, an insurer
shall maintain a program designed to compare each such policy, contract, or account with a
death master file no less frequently than every three years, it being the intent that insurers
fashion a program that best fits their business systems while at the same time protecting
consumers by assuring reasonable checks are being performed to identify unreported deaths.
For those potential death master file matches identified as a result of a death master file
comparison, the insurer shall do all of the following: (1) Within 90 days of a death master
file match: a. Complete a commercially reasonable effort, which shall be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-53.htm - 5K - Match Info - Similar pages
32-7-22
Section 32-7-22 Motor vehicle liability policy defined; policy provisions. (a) A motor vehicle
liability policy, as the term is used in this chapter, means an owner's or an operator's policy
of liability insurance, certified as provided in Section 32-7-20 or Section 32-7-21 as proof
of financial responsibility, and issued, except as otherwise provided in Section 32-7-21,
by an insurance carrier duly authorized to transact business in this state, to or for the
benefit of the person named in the policy as insured. (b) The owner's policy of liability
insurance: (1) Shall designate by explicit description or by appropriate reference all motor
vehicles to be insured; and (2) Shall insure the person named in the policy and any other
person, as insured, using any motor vehicle or motor vehicles designated in the policy with
the express or implied permission of the named insured, against loss from the liability imposed
by law for damages arising out of the ownership, maintenance, or use of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7-22.htm - 5K - Match Info - Similar pages
25-5-8
Section 25-5-8 Employers' options to secure payment of compensation. (a) Option to insure risks.
An employer subject to this chapter may secure the payment of compensation under this chapter
by insuring and keeping insured his or her liability in some insurance corporation, association,
organization, insurance association, corporation, or association formed of employers and workers
or formed by a group of employers to insure the risks under this chapter, operating by mutual
assessment or other plans or otherwise. Notwithstanding the foregoing, the insurance association,
organization, or corporation shall have first had its contract and plan of business approved
in writing by the Commissioner of the Department of Insurance of Alabama and have been authorized
by the Department of Insurance to transact the business of workers' compensation insurance
in this state and under the plan. Notwithstanding any other provision of the law to the contrary,
the obligations of employers under law for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-8.htm - 14K - Match Info - Similar pages
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