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27-14-5
Section 27-14-5 Power to contract; purchase of insurance by or for minors. (a) Any person of
competent legal capacity may contract for insurance. (b) Any minor of the age of 15 years
or more, as determined by the nearest birthday, may, notwithstanding his minority, contract
for annuities, or for insurance upon his own life, body, health, property, liabilities, or
other interests or on the person of another in whom the minor has an insurable interest. Such
a minor shall, notwithstanding such minority, be deemed competent to exercise all rights and
powers with respect to, or under: (1) Any contract for annuity or for insurance upon his own
life, body, or health; or (2) Any contract such minor effected upon his own property, liabilities,
or other interests or on the person of another, as might be exercised by a person of full
legal age, and may at any time surrender his interest in any such contracts and give valid
discharge for any benefit accruing or money payable thereunder. Such a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-5.htm - 2K - Match Info - Similar pages
27-40-3
Section 27-40-3 Licenses - Required; fees; information to be furnished commissioner. (a) No
person shall engage in the business of financing insurance premiums in this state without
first having obtained a license as a premium finance company from the commissioner. Any person
who shall engage in the business of financing insurance premiums in this state without first
having obtained a license as provided herein shall be guilty of a misdemeanor and upon conviction
shall be punished by a fine of not more than $1,000.00 or by imprisonment for not more than
one year, or both. (b) The annual license fee shall be $200.00; provided, that an insurance
agency which finances its own business of less than $150,000.00 in premiums annually shall
pay a fee of $50.00. The fee for said license shall be paid into the Insurance Department
Examination Revolving Fund and the same is hereby appropriated for that use. (c) The person
to whom the license or the renewal thereof may be issued shall file sworn...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-40-3.htm - 1K - Match Info - Similar pages
16-25A-8
Section 16-25A-8 Funding of health insurance plan; participation; Public Education Employees'
Health Insurance Fund. (a) The Public Education Employees' Health Insurance Board is hereby
authorized to provide under the contract or contracts entered into under the provisions of
this article an insurance benefit plan for each covered employee and, under certain conditions,
retired employees; the cost of such plan may be funded in part or in full through monthly
premiums per active employee from the same source of funds as those used for the payment of
salaries of active members and in part from other funds. (b) On or before January 1 next preceding
each regular meeting of the Legislature, the board shall certify to the Governor and to the
Legislature the amount or amounts necessary to fund coverage for benefits authorized by this
article for the following fiscal year for employees and for retired employees as a monthly
premium per active member per month. The Legislature shall set the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25A-8.htm - 6K - Match Info - Similar pages
39-1-4
Section 39-1-4 selection of surety company, etc.; approval of bonds, etc. (a) No officer or
employee of an awarding authority and no person acting or purporting to act on behalf of such
officer or employee of an awarding authority, except a public agency or authority created
pursuant to agreement or compact with another state, shall, with respect to any public works
contract, require the bidder to obtain or procure any surety bond or contract of insurance
specified in connection with such contract or specified by any law, ordinance, or regulation
from a particular surety company, insurance company, bonding company, agent, or broker. No
officer, employee, person, firm, or corporation acting or purporting to act on behalf of any
officer or employee of an awarding authority shall negotiate, make application, obtain, or
procure any surety bond or contract of insurance, except contracts of insurance for builder's
risk or owner's protective liability, which shall be obtained or procured by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-1-4.htm - 3K - Match Info - Similar pages
27-22-42
Section 27-22-42 Policyholders Bill of Rights. The following shall serve as the minimum standards
to be followed by the Alabama Department of Insurance in exercising the department's powers
and duties in regulating insurance companies pursuant to Chapter 12. The Department of Insurance
and insurance companies shall post this list or an electronic link of this list on their respective
websites. These standards include the following: (1) Policyholders shall have the right to
competitive pricing practices of insurers as prescribed by applicable federal or state insurance
law and regulation. (2) Policyholders shall have the right to insurance advertising and sales
approaches that provide representative information on the policy in accordance with Chapter
12. (3) Policyholders shall have the right to assurance that the insurance market in general
and their insurance company in particular are financially stable as provided in Section 27-12-7.
(4) Policyholders shall have the right to receive...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-22-42.htm - 3K - Match Info - Similar pages
8-32-4
Section 8-32-4 Required provisions, reimbursement insurance policy. Reimbursement insurance
policies insuring service contracts sold in this state shall provide that, upon failure of
the provider to perform under the service contract, including, without limitation, failure
to refund or credit the unearned portion of the purchase price of the service contract to
the extent required by this chapter, the insurer that issued the reimbursement insurance policy
shall pay on behalf of the provider any sums the provider is legally obligated to pay to a
service contract holder, or shall provide the service which the provider is legally obligated
to perform, according to the provider's contractual obligations under the service contracts
sold by the provider. The reimbursement insurance company shall be responsible to refund only
the unearned premium net of the unearned provider fee, and the provider shall be responsible
for refunding or crediting the unearned provider fee in excess of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-32-4.htm - 1K - Match Info - Similar pages
27-12A-1
Section 27-12A-1 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) COMMISSIONER. The Alabama Commissioner of Insurance or his or her designee.
(2) DEPARTMENT. The Alabama Department of Insurance. (3) INSURANCE. As defined in Section
27-1-2, and specifically including any contract, arrangement, or agreement, in which one undertakes
to do any one of the following: a. Pay or indemnify another as to loss from certain contingencies
called risks. b. Pay or grant a specified amount or determinable benefit to another in connection
with ascertainable risk contingencies. c. Pay an annuity to another. d. Act as surety. For
the purposes of this chapter, insurance also includes any health benefit plan as defined in
Section 27-53-1. (4) INSURANCE PRODUCER or PRODUCER. As defined in Section 27-7-1. (5) INSURER.
A person entering into agreements, contracts of insurance, arrangements, or reinsurance, or
a health benefit plan, or a group health plan as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-12A-1.htm - 3K - Match Info - Similar pages
5-19-20
Section 5-19-20 Insurance. (a) With respect to any consumer credit transaction, the creditor
shall not require any insurance other than insurance against loss of or damage to any property
in which the creditor is given a security interest and insurance insuring the lien of the
creditor on the property which is collateral for the transaction. (b) (1) Credit life and
disability and involuntary unemployment insurance may be offered and, if accepted, may be
provided by the creditor. The charge to the debtor for the insurance shall not exceed the
premium permitted for the coverages. Insurance with respect to any credit transaction shall
not exceed the approximate amount and term of the credit. (2) This subdivision (2) applies
to all consumer credit transactions entered into on or after June 19, 1996. If the consumer
credit transaction is scheduled to be repaid in substantially equal installments which include
a portion of the amount financed, the amount of credit life insurance at any time...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-19-20.htm - 5K - Match Info - Similar pages
25-14-4
Section 25-14-4 Construction of provisions; scope of business; taxation; competitive bidding;
employment information provided by professional employer organization. (a) Neither this chapter
nor a professional employer agreement may affect, modify, or amend any collective bargaining
agreement, or the rights or obligations of any client, professional employer organization,
or covered employee under the federal National Labor Relations Act, or any other similar law.
(b) Neither this chapter nor a professional employer agreement may affect, modify, or amend
any state, local, or federal licensing, registration, or certification requirement applicable
to any professional employer organization, client, or covered employee. (c) A covered employee
who is required to be licensed, registered, or certified according to law or regulation is
solely an employee of the client for purposes of the license, registration, or certification
requirement. (d) A professional employer organization does not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-14-4.htm - 3K - Match Info - Similar pages
8-32-6
Section 8-32-6 Prohibited acts. (a) A provider shall not use in its name the words insurance,
casualty, surety, mutual, or any other words descriptive of the insurance, casualty, or surety
business; or a name deceptively similar to the name or description of any insurance or surety
corporation, or to the name of any other provider. The word "guaranty" or similar
word may be used by a provider. This section shall not apply to a company that was using any
of the prohibited language in its name prior to August 1, 1997. However, a company using the
prohibited language in its name shall include in its service contracts a statement in substantially
the following form: "This agreement is not an insurance contract." (b) A person,
such as a bank, savings and loan association, lending institution, manufacturer, or seller
of any product, shall not require the purchase of a service contract as a condition of a loan
or a condition for the sale of any property. (Acts 1997, No. 97-445, p. 753, ยง6.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-32-6.htm - 1K - Match Info - Similar pages
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