27-30-18
Section 27-30-18 Deposit - Amounts; purpose; kind. (a) Each mutual aid association shall,
prior to issuance of its certificate of authority, deposit and thereafter maintain on deposit
with the Treasurer of the State of Alabama securities of the kind authorized under subsection
(d) of this section, in the amount of not less than $5,000.00. If in any calendar year
the gross premium receipts of the association from business done within this state exceed
$50,000.00, the association shall, not later than the March 30 next following such calendar
year, increase the amount of its deposit so made and maintained in accordance with the following
schedule: Gross premium receipts during calendar year Amount of deposit required More than
$50,000 but less than $150,000 $10,000 Equal to 150,000 but less than 250,000 15,000 Equal
to 250,000 but less than 350,000 20,000 Equal to 350,000 but less than 500,000 25,000 Equal
to 500,000 but less than 750,000 50,000 Equal to 750,000 but less than 1,000,000...
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27-3-13
Section 27-3-13 Deposit requirements - Special deposit - Title insurers. (a) For authority
to transact such insurance in this state, a foreign title insurer shall have and maintain
on deposit in this state for the better protection of its guaranty holders and creditors,
resident in this state, under its contracts of title insurance, cash and securities eligible
under Section 27-6-3 having a value at all times of not less than $50,000.00. The deposit
shall be so made and maintained in trust with a bank or trust company located in this state,
approved by the commissioner, having a capital and surplus of not less than $500,000.00. (b)
At its option, a domestic title insurer may maintain a deposit in like manner, amount, character
and for like purposes as required for foreign insurers under subsection (a) of this section.
(c) Such deposits shall be subject to the applicable provisions of Chapter 6 of this title.
(Acts 1923, No. 485, p. 635; Acts 1971, No. 407, p. 707, §58.)...
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27-6-4
Section 27-6-4 Deposits of insurers - State Treasurer as custodian. (a) Deposits made
in this state under Sections 27-3-11, 27-3-12, and 27-3-14, together with deposit of reserves
of domestic life insurers under registered policies heretofore issued, shall be made through
the commissioner with the Treasurer of the State of Alabama. (b) The State Treasurer, in his
official capacity, shall take receipt for and hold deposits made under this title as provided
in subsection (a) of this section, subject to the provisions of this chapter. (c) The
State Treasurer shall hold all such deposits in safekeeping in the vaults located in his offices
or, if space in such vaults is not reasonably adequate and safe for all securities and property
otherwise to be contained therein, the Treasurer may keep such securities in safe deposit
boxes rented by him for the purpose and under his control in established safe deposit institutions
located in the City of Montgomery, Alabama. (d) The Treasurer shall be...
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41-14-30
Section 41-14-30 Deposit of funds in qualified public depositories; types of investments.
(a) The State Treasurer may deposit the money of the state in any available bank product in
any bank or savings association that is a qualified public depository under Chapter 14A of
this title and that has been designated as a state depositary according to law, so long as
the bank or savings association agrees to pay interest on the money. (b) The State Treasurer
may invest so much of the funds as he or she may deem appropriate in bonds, notes, or treasury
bills of the United States or in obligations of any agency or instrumentality of the United
States of America, including but not limited to the Federal Land Bank, Federal Home Loan Bank,
Federal National Mortgage Association, Federal Intermediate Credit Bank, banks for cooperatives,
Resolution Trust Corporation, or any of its other agencies, or in any other obligations guaranteed
as to principal and interest by the United States, or in money...
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5-11A-7
Section 5-11A-7 Deposit of security for a operation of trust business - Certificate
of deposit; purpose. The State Treasurer shall, from time to time, furnish the company making
such deposit with a proper certificate showing the fact of the deposit and containing an exact
description of the bonds or other securities deposited. Such deposit is to secure the payment
of all liabilities of the company making the deposit as a guardian, administrator, executor,
receiver, trustee or other fiduciary under appointment of any court of this state where the
company has claimed exemption from giving bond by reason of having this deposit, and all such
liabilities shall constitute a first claim on said bonds or other securities deposited as
against all other liabilities of said company. (Acts 1980, No. 80-658, §5-11-7.)...
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9-16-8
Section 9-16-8 Bonds, cash deposits or securities deposits of operators. (a) Any bond
provided in this article to be filed with the department by the operator shall be in the form
as the director prescribes, payable to the State of Alabama and conditioned that the operator
shall faithfully perform all applicable requirements of this article and comply with all applicable
rules of the department made in accordance with the provisions of this article. The bond shall
be signed by the operator, as principal, and by a good and sufficient corporate surety licensed
to do business in the State of Alabama, as surety. The penalty of the bond shall be two thousand
five hundred dollars ($2,500) for each acre covered by the permit. In lieu of a bond, the
operator may elect to deposit cash or negotiable bonds of the United States government or
the State of Alabama or any municipality within the state with the department in lieu of a
corporate surety. The cash deposit or market value of the...
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27-31A-2
Section 27-31A-2 Definitions. As used in this chapter, the following terms shall have
the following meanings, respectively, unless the context clearly indicates otherwise: (1)
COMMISSIONER. The Insurance Commissioner of this state or the commissioner, director, or superintendent
of insurance in any other state. (2) COMPLETED OPERATIONS LIABILITY. Liability arising out
of the installation, maintenance, or repair of any product at a site which is not owned or
controlled by either of the following: a. Any person who performs that work. b. Any person
who hires an independent contractor to perform that work, but shall include liability for
activities which are completed or abandoned before the date of the occurrence giving rise
to the liability. (3) DOMICILE. For purposes of determining the state in which a purchasing
group is domiciled: a. For a corporation, the state in which the purchasing group is incorporated.
b. For an unincorporated entity, the state of its principal place of...
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2-27-56
Section 2-27-56 Surety bond or liability insurance. Each applicant for a license to
perform the custom application of pesticides shall, before a license is issued to him, furnish
and file with the commissioner a surety bond in which the State of Alabama is named as obligee
in the sum of $3,000.00 for each applicant operating ground equipment or not more than two
aircraft. Where an applicant operates more than two aircraft, the amount of the bond required
to be furnished shall be increased by the sum of $3,000.00 for each additional aircraft, provided
the total amount of any bond required under this section shall not exceed the sum of
$12,000.00. The bond shall be conditioned for the protection of, and that the licensee will
answer in damages to, persons who may suffer legal damages as a result of licensee's custom
application of pesticides or drift to plants, animals or property or by failure of licensee
to comply with any of the requirements of this article, and rules and regulations...
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27-43-13
Section 27-43-13 Fees and taxes required of legal service insurance corporations; applicability
of general insurance laws to legal service insurance corporations. (a) A legal service insurance
corporation will pay the prescribed fees and taxes required of a domestic casualty insurer.
(b) The following provisions of the insurance laws of this state apply to legal service insurance
corporations authorized under Section 27-43-8, to the extent that they are not inconsistent
with the provisions of this chapter: (1) Chapters 27-1 and 27-2 - Administration and General
Provisions; (2) Chapter 27-4 - Fees and Taxes; (3) Chapter 27-6 - Administration of Deposits;
(4) Chapter 27-11 [27-12] - Unfair Trade Practices; and (5) Chapter 27-32 - Insurer Insolvency;
Rehabilitation and Liquidation. (c) The commissioner may by rule modify or waive any requirements
referred to in subsection (b) of this section for legal service insurers if it is necessary
to avoid unreasonable hardship, expense, or...
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32-7-29
Section 32-7-29 Substitution of proof. The director shall consent to the cancellation
of any bond or certificate of insurance or the director shall direct and the State Treasurer
shall return any money or securities to the person entitled thereto upon the substitution
and acceptance of other adequate proof of financial responsibility pursuant to this chapter.
(Acts 1951, No. 704, p. 1224, §27.)...
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