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27-44-14
Section 27-44-14 Liability of unpaid assessments; records of negotiations and meetings; association
deemed creditor of impaired or insolvent insurer; judicial distribution of ownership rights
of insolvent insurer; recovery by receiver of certain distributions from controlling affiliates.
(a) Nothing in this chapter shall be construed to reduce the liability for unpaid assessments
of the insureds on an impaired or insolvent insurer operating under a plan with assessment
liability. (b) Records shall be kept of all negotiations and meetings in which the association
or its representatives are involved to discuss the activities of the association in carrying
out its powers and duties under Section 27-44-8. Records of such negotiations or meetings
shall be made public only upon the termination of a liquidation, rehabilitation, or conservation
proceeding involving the impaired or insolvent insurer, upon the termination of the impairment
or insolvency of the insurer, or upon the order of a...
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27-32-30
Section 27-32-30 Claims upon liquidation of insurer - Allowance. (a) No contingent and unliquidated
claim shall share in a distribution of the assets of an insurer which has been adjudicated
to be insolvent by an order made pursuant to this chapter; except, that such claim shall be
considered, if properly presented, and may be allowed to share where: (1) Such claim becomes
absolute against the insurer on or before the last day for filing claims against the assets
of such insurer; or (2) There is a surplus and the liquidation is thereafter conducted upon
the basis that such insurer is solvent. (b) Where an insurer has been so adjudicated to be
insolvent, any person who has a cause of action against an insured of such insurer under a
liability insurance policy issued by such insurer shall have the right to file a claim in
the liquidation proceeding, regardless of the fact that such claim may be contingent, and
such claim may be allowed: (1) If it may be reasonably inferred from the proof...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-30.htm - 2K - Match Info - Similar pages
27-42-11
Section 27-42-11 Settlement and payment of claims; recovery. (a) Any person recovering under
this chapter shall be deemed to have assigned his or her rights under the policy to the association
to the extent of his or her recovery from the association. Every insured or claimant seeking
the protection of this chapter shall cooperate with the association to the same extent as
such person would have been required to cooperate with the insolvent insurer. The association
shall have no cause of action against the insured of the insolvent insurer for any sums it
has paid out except for those causes of action the insolvent insurer would have had if such
sums had been paid by the insolvent insurer and except as provided in subsections (d), (e),
(f), (g), and (h) below. In the case of an insolvent insurer operating on a plan with assessment
liability, payments of claims of the association may not operate to reduce the liability of
insureds to the receiver, liquidator, or statutory successor for...
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27-44-18
Section 27-44-18 Stay of proceedings; reopening default judgments. All proceedings in which
the insolvent insurer is a party in any court in this state shall be stayed 180 days from
the date an order of liquidation, rehabilitation, or conservation is final to permit proper
legal action by the association on any matters germane to its powers or duties. As to judgment
under any decision, order, verdict, or finding based on default the association may apply
to have such judgment set aside by the same court that made such judgment and shall be permitted
to defend against such suit on the merits. (Acts 1982, No. 82-561, p. 922, §18; Act 2012-319,
p. 724, §1.)...
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27-42-9
Section 27-42-9 Plan of operation. (a) The association shall submit to the commissioner a plan
of operation and any amendments thereto necessary or suitable to assure the fair, reasonable,
and equitable administration of the association. The plan of operation and any amendments
thereto shall become effective upon approval in writing by the commissioner. If the association
fails to submit a suitable plan of operation within 90 days following January 1, 1981, or
if at any time thereafter the association fails to submit suitable amendments to the plan,
the commissioner shall, after notice and hearing, adopt and promulgate such reasonable rules
as are necessary or advisable to effectuate the provisions of this chapter. Such rules shall
continue in force until modified by the commissioner or superseded by a plan submitted by
the association and approved by the commissioner. (b) All member insurers shall comply with
the plan of operation. (c) The plan of operation shall: (1) Establish...
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10A-2A-14.10
Section 10A-2A-14.10 Grounds for judicial dissolution. (a) The circuit court for the county
in which the corporation's principal office is located in this state, and if none in this
state, the circuit court for the county in which the corporation's most recent registered
office is located may dissolve a corporation: (1) in a proceeding by the Attorney General
if it is established that: (i) the corporation obtained its certificate of incorporation through
fraud; or (ii) the corporation has continued to exceed or abuse the authority conferred upon
it by law; (2) in a proceeding by a stockholder if it is established that: (i) the directors
are deadlocked in the management of the corporate affairs, the stockholders are unable to
break the deadlock, and irreparable injury to the corporation is threatened or being suffered,
or the business and affairs of the corporation can no longer be conducted to the advantage
of the stockholders generally, because of the deadlock; (ii) the directors or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-14.10.htm - 3K - Match Info - Similar pages
27-44-5
Section 27-44-5 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACCOUNT. Either
of the three accounts created under Section 27-44-6. (2) ASSOCIATION. The Alabama Life and
Disability Insurance Guaranty Association created under Section 27-44-6. (3) AUTHORIZED ASSESSMENT
or the term AUTHORIZED when used in the context of assessments. A resolution by the board
of directors has been passed whereby an assessment will be called immediately or in the future
from member insurers for a specified amount. An assessment is authorized when the resolution
is passed. (4) BENEFIT PLAN. A specific employee, union, or association of natural persons
benefit plan. (5) CALLED ASSESSMENT or the term CALLED when used in the context of assessments.
A notice that has been issued by the association to member insurers requiring that an authorized
assessment be paid within the time frame set forth within...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-5.htm - 7K - Match Info - Similar pages
25-5-255
Section 25-5-255 Insolvency fund. Upon receipt of the funds assessed on members, the association
may set aside funds for the administration of its affairs, and the balance of the funds shall
be deposited to an insolvency fund under the following terms: (1) The fund is created for
the purpose of assuring payment of workers' compensation claims against members of the association
who become insolvent; but only those claims which accrue while the insolvent employer is a
member of the association and accrue prior to the determination of insolvency or within 30
days thereafter. The obligation of the fund shall be limited to the obligation of the insolvent
employer under the Workers' Compensation Act, in an amount not to exceed 150 percent of the
amount of security as determined by the department as of the last annual financial review.
The fund shall have all defenses of and shall be subrogated to all rights of the insolvent
employer. The fund shall not be liable for any penalties or interest...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-255.htm - 2K - Match Info - Similar pages
25-4-94
Section 25-4-94 Powers and duties of board of appeals for Department of Labor. (a) The board
of appeals for the Department of Labor, created by Section 25-2-12, may, on its own motion
at any time before a decision of an appeals tribunal becomes final, affirm, modify, or set
aside any such decision on the basis of the evidence previously submitted in such case, or
direct the taking of additional evidence, or may permit any party in interest to initate an
appeal to it. The board of appeals may remove to itself or transfer to another appeals tribunal
the proceedings on any claim pending before an appeals tribunal. The board of appeals shall
promptly notify in writing the parties to any proceedings of its findings and decision, together
with the reasons therefor. (b) Unless the application for appeal described in subsection (c)
of Section 25-4-92 is granted by the board of appeals within 10 days after its filing with
it, the applicant may, within the following 10 days, take an appeal from...
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25-5-294
Section 25-5-294 Communications, etc. privileged; documentation; release of records or information;
penalty for obtaining information under false pretenses. (a) All letters, reports, communications,
and other matters, written or oral, from employer or employee to each other, to the Secretary
of the Department of Labor, any of his or her agents, representatives, or employees, or to
any official or board functioning under this article, which have been written, sent, delivered,
or made in connection with the requirements and administration of this article, shall be absolutely
privileged. Information obtained from the above mentioned matters shall be held confidential,
except to the extent necessary for the proper presentation of the contest of a claim, and
shall not be published or open to public inspection in any manner. Any person violating this
section shall be fined not less than $20.00 nor more than $200.00, or imprisoned for not longer
than 30 days, or both. (b) The secretary may...
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