|
27-9A-2
Section 27-9A-2 Definitions. For purposes of this chapter, the following terms shall have the
meanings respectively ascribed to them by this section: (1) APPRENTICE INDEPENDENT ADJUSTER.
As defined in Section 27-9A-11. (2) BUSINESS ENTITY. A corporation, association, partnership,
limited liability company, limited liability partnership, or other legal entity. (3) COMMISSIONER.
The Alabama Commissioner of Insurance. (4) HOME STATE. The District of Columbia and any state
or territory of the United States in which an independent adjuster maintains the principal
place of residence or business of the adjuster and in which the adjuster is licensed to act
as a resident independent adjuster. In the case of a resident of a Canadian province, or if
the resident state or territory does not license independent adjusters for the line of authority
sought, the home state of the independent adjuster shall be any state in which the independent
adjuster is licensed and in good standing, as designated by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-9A-2.htm - 2K - Match Info - Similar pages
23-2-154
Section 23-2-154 Bonds legal investments for all purposes; entitled to be deposited with state
officers or agencies. Bonds issued by the authority under the provisions of this article are
hereby made securities in which the state and all political subdivisions of this state, their
officers, boards, commissioners, departments or other agencies; all banks, bankers, savings
banks, trust companies, savings and loan associations, investment companies and other persons
carrying on a banking business; all insurance companies, insurance associations and other
persons carrying on an insurance business; and all administrators, executors, guardians, trustees
and other fiduciaries; and all other persons whatsoever who now are or may hereafter be authorized
to invest in bonds or other obligations of the state may properly and legally invest any funds,
including capital belonging to them or within their control. The bonds or other securities
or obligations are hereby made securities which properly...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-2-154.htm - 1K - Match Info - Similar pages
27-1-17
Section 27-1-17 Limitation periods for payment of claims; overdue claims; retroactive denials,
adjustments, etc.; penalties. (a) Each insurer, health service corporation, and health benefit
plan that issues or renews any policy of accident or health insurance providing benefits for
medical or hospital expenses for its insured persons shall pay for services rendered by Alabama
health care providers within 45 calendar days upon receipt of a clean written claim or 30
calendar days upon receipt of a clean electronic claim. If the insurer, health service corporation,
or health benefit plan is denying or pending the claim, the insurer, health service corporation,
or health benefit plan shall, within 45 calendar days for a written claim and 30 calendar
days for an electronic claim, notify the health care provider or certificate holder of the
reason for denying or pending the claim and what, if any, additional information is required
to process the claim. Any undisputed portion of the claim...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-1-17.htm - 17K - Match Info - Similar pages
27-29A-2
Section 27-29A-2 Definitions. For purposes of this chapter, the following definitions shall
apply: (1) INSURANCE GROUP. Those insurers and affiliates included within an insurance holding
company system as defined in Chapter 29. (2) INSURER. As set forth in Section 27-1-2, except
that it shall not include agencies, authorities, or instrumentalities of the United States,
its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia,
or a state or political subdivision of a state. (3) NAIC. The National Association of Insurance
Commissioners and its affiliates and subsidiaries. (4) OWN RISK AND SOLVENCY ASSESSMENT or
ORSA. A confidential internal assessment, appropriate to the nature, scale, and complexity
of an insurer or insurance group, conducted by that insurer or insurance group of the material
and relevant risks associated with the insurer or insurance group's current business plan,
and the sufficiency of capital resources to support those risks. (5)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29A-2.htm - 1K - Match Info - Similar pages
27-3-20
Section 27-3-20 Suspension or revocation of certificates - Mandatory grounds; notice and hearing.
(a) The commissioner shall suspend or revoke an insurer's certificate of authority: (1) If
such action is required by any provision of this title; (2) If the insurer no longer meets
the requirements for the authority originally granted on account of deficiency of assets or
otherwise; or (3) If the insurer's authority to transact insurance is suspended or revoked
by its state of domicile or state of entry into the United States if an alien insurer. (b)
Except in cases of insolvency or impairment of required capital or surplus or suspension or
revocation by another state as referred to in subdivision (a) (3) of this section, the commissioner
shall give the insurer at least 10 days' notice in advance of any such suspension or revocation
under this section and of the particulars of the reasons therefor. If the insurer requests
a hearing thereon within such 10 days, such request shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-20.htm - 1K - Match Info - Similar pages
27-32-1
Section 27-32-1 Definitions. For the purposes of this chapter, the following terms shall have
the meanings respectively ascribed to them by this section: (1) IMPAIRMENT or INSOLVENCY.
The capital of a stock insurer, the net assets of a Lloyd's plan insurer or the surplus of
a mutual or reciprocal insurer shall be deemed to be impaired and the insurer shall be deemed
to be insolvent when such insurer is not possessed of assets at least equal to all liabilities
and required reserves, together with its total issued and outstanding capital stock, if a
stock insurer, or the minimum surplus, if a Lloyd's plan, mutual or reciprocal insurer, required
by this title to be maintained for the kind or kinds of insurance it is then authorized to
transact. (2) INSURER. Any person, firm, corporation, association, or aggregation of persons
doing an insurance business and subject to the insurance supervisory authority of, or to liquidation,
rehabilitation, reorganization, or conservation by, the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-1.htm - 4K - Match Info - Similar pages
27-41-16
Section 27-41-16 Particular investments - Preferred or guaranteed stocks or shares of American
corporations. An insurer may invest in the preferred or guaranteed stocks or shares of any
solvent corporation engaged in any lawful business and existing under the laws of the United
States or any state thereof if the prior obligations of the issuing company or the guarantor,
if any, would be eligible for investment under the provisions of Section 27-41-15 and if the
company has continuously paid the dividends provided for by outstanding preferred stock, if
any, during the five years preceding the acquisition of the investment. (Acts 1977, No. 408,
p. 530, ยง16.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-16.htm - 971 bytes - Match Info - Similar pages
27-6-3
Section 27-6-3 Deposits of insurers - Composition. (a) All such deposits required under Sections
27-3-11, 27-3-12, and 27-3-14 for authority to transact insurance in this state shall consist
of certified checks, or certificates of deposit or any combination of securities, the market
value of which is readily ascertainable, and, if negotiable by delivery or assignment, of
the kinds described below: (1) United States government obligations; (2) State, county, municipal,
and school obligations; (3) Public improvement obligations; (4) Housing authority obligations;
(5) Obligations, stock of certain federal agencies; (6) Canadian governmental obligations;
(7) International banks; (8) Corporate obligations; (9) Equipment trust obligations; and (10)
Railroad leased lines, terminal obligations. (b) All such deposits required of a domestic
insurer pursuant to the laws of another state, province, or country shall be comprised of
securities, if negotiable by delivery or assignment, of the kind,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6-3.htm - 3K - Match Info - Similar pages
9-10-39
Section 9-10-39 Investment in bonds by state, banks, insurance companies, etc.; deposit of
bonds, etc., with state or municipal officers or agencies. Bonds issued by the corporation
under the provisions of this article are hereby made securities in which the state and all
political subdivisions of this state, their officers, boards, commissions, departments or
other agencies, all banks, bankers, savings banks, trust companies, savings and loan associations,
investment companies and other persons carrying on a banking business, all insurance companies,
insurance associations, and other persons carrying on an insurance business and all administrators,
executors, guardians, trustees and other fiduciaries and all other persons whatsoever who
now are or may hereafter be authorized to invest in bonds or other obligations of the state
may properly and legally invest any funds including capital belonging to them or within their
control. The bonds or other securities or obligations are hereby...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-10-39.htm - 1K - Match Info - Similar pages
9-8A-1
Section 9-8A-1 Definitions. The following words and phrases used in this chapter, and others
evidently intended as the equivalent thereof, shall, in the absence of clear implication herein
otherwise, have the following respective meanings: (1) ALLOCATED FUNDS. That portion of the
funds appropriated to the commission that are allocated by the commission to the soil and
water conservation district in each county of the state. (2) AUTHORIZED INVESTMENTS. Bonds
or other obligations of, or guaranteed by, the United States of America or the state, or interest
bearing bank and savings and loan association deposits or obligations, obligations of any
agency of the United States of America, any obligations in which a state chartered savings
and loan association may invest its funds, any agreement to repurchase any of the foregoing,
or any thereof. (3) COMMISSION. The Alabama Agricultural and Conservation Development Commission
organized pursuant to the provisions of the Constitution of Alabama...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-8A-1.htm - 4K - Match Info - Similar pages
|