27-41-34
Section 27-41-34 Particular investments - Real estate. (a)(1) An insurer may acquire,
invest in, own, maintain, alter, furnish, and improve the following real estate: a. Land and
buildings used for home office and branch office purposes, together with such other real estate
as is required for the convenient transaction of its business; and b. Funeral home buildings
used in the servicing of burial insurance policies. (2) An insurer may lease to others part
of the real property otherwise occupied by it for home office and other purposes under paragraphs
a. and b. of subdivision (1) of this subsection, except that the value of the parts so leased
must be included in subdivision (2) of subsection (b) of this section. (3) Except as
provided in subsection (e) of this section, an insurer may not carry, as an admitted
asset, real estate acquired under this subsection following 10 years from the date when such
real estate ceases to be necessary for the convenient accommodation of the insurer in...
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27-7-4.2
Section 27-7-4.2 Licenses - Applicability to insurance producer. (a) Nothing in this
chapter shall be construed to require an insurer to obtain an insurance producer license.
In this section, the term "insurer" does not include an insurer's officers,
directors, employees, subsidiaries, or affiliates. (b) A license as an insurance producer
shall not be required of any of the following: (1) An officer, director, or employee of an
insurer or of an insurance producer, provided that the officer, director, or employee does
not receive any commission on policies written or sold to insure risks residing, located,
or to be performed in this state and any of the following: a. The officer, director, or employee's
activities are executive, administrative, managerial, clerical, or a combination of these,
and are only indirectly related to the sale, solicitation, or negotiation of insurance. b.
The officer, director, or employee's function relates to underwriting, loss control, inspection,
or the...
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45-49A-63.101
Section 45-49A-63.101 Insurance premiums. (a) On or before the first day of March of
each year, each insurance company writing fire insurance on property within the city limits
and its police jurisdiction shall pay to the city an amount equal to four percent of its gross
premiums, including all renewal premiums, less return premiums, collected by the company on
such policies in effect during the preceding year in the city and its police jurisdiction.
The city shall credit one-half of this amount to the fund within 30 days of its receipt by
the city. The remaining one-half shall be retained by the city and credited against the insurance
companies' business license obligations. (b) Each such insurance company, on or before the
due date of such payment, shall file with the city finance director a sworn, written statement
showing the gross amount of premiums, including all renewal premiums, less return premiums,
received on such policies during the preceding year. Any insurance company...
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8-32-5
Section 8-32-5 Required provisions, service contracts. (a) Service contracts sold or
offered for sale in this state, in their entirety, shall be written, printed, or typed in
eight point type size, or larger, and shall comply with the requirements set forth in this
section, as applicable. (b) Service contracts insured under a reimbursement insurance
policy pursuant to subdivision (1) of subsection (f) of Section 8-32-3 shall contain
a statement in substantially the following form: "Obligations of the provider under this
service contract are guaranteed under a service contract reimbursement insurance policy."
If the provider fails to pay or to provide service on a claim within 60 days after proof of
loss has been filed, the service contract holder is entitled to make a claim directly against
the reimbursement insurance company. The service contract shall state the name and address
of the reimbursement insurance company. (c) Service contracts not insured under a reimbursement
insurance...
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27-1-24.1
Section 27-1-24.1 Incentives for homeowners insurance policies with wind coverage in
certain areas. (a) Insurance carriers providing full property and casualty coverage, to specifically
include wind and hail coverage, to property owners within the areas defined in Section
27-1-24, including any portion of the area as it may be expanded from time to time pursuant
to Section 27-1-27, but only on properties that as of the time of writing are insured
for wind coverage through the Alabama Insurance Underwriting Association, may claim as a nonrefundable
credit against the insurance premium tax imposed by Chapter 4A of this title, in an amount
equal to 20 percent of the insurance premium tax otherwise due on the premium written for
the property owners for the taxable year in Zones B4, B5, M4, M5, or successor zones; and
35 percent of the insurance premium tax otherwise due on the premium written for the property
owners for the taxable year in Zones Gulf Front, B1, B2, B3, M1, M2, M3, or...
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27-15-23
Section 27-15-23 Standard provisions in contracts for reversionary annuities. (a) Except
as stated in this section, no contract for a reversionary annuity shall be delivered
or issued for delivery in this state unless it contains in substance each of the following
provisions: (1) Any such reversionary annuity contract shall contain the provisions specified
in Sections 27-15-17 through 27-15-21 except that under Section 27-15-20 the insurer
may at its option provide for an equitable reduction of the amount of the annuity payments
in settlement of an overdue or deferred payment in lieu of providing for deduction of such
payments from an amount payable upon settlement under the contract; and (2) In such reversionary
annuity contracts, there shall be a provision that the contract may be reinstated at any time
within three years from the date of default in making stipulated payments to the insurer upon
production of evidence of insurability satisfactory to the insurer and upon condition...
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8-32-2
Section 8-32-2 Definitions. As used in this chapter, the following terms shall have
the following meanings: (1) ADMINISTRATOR. The person designated by a provider to be responsible
for the administration of service contracts or the service contracts plan or to make the filings
required by this chapter. (2) COMMISSIONER. The Commissioner of Insurance of this state. (3)
CONSUMER. A natural person who buys, primarily for personal, family, or household purposes,
and not for resale, any tangible personal property normally used for personal, family, or
household purposes and not for commercial or research purposes. (4) MAINTENANCE AGREEMENT.
A contract of limited duration that provides for scheduled maintenance only. (5) MANUFACTURER.
A person that is one of the following: a. A manufacturer or producer of property that sells
the property under its own name or label. b. A subsidiary of the person who manufactures or
produces the property. c. A corporation which owns at least 80 percent of the...
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27-36A-2
Section 27-36A-2 Definitions. For purposes of this chapter, the following definitions
shall apply on or after the operative date of the valuation manual as defined by Section
27-36A-15: (1) ACCIDENT AND HEALTH INSURANCE. Contracts that incorporate morbidity risk and
provide protection against economic loss resulting from accident, sickness, or medical conditions
and as may be specified in the valuation manual. (2) APPOINTED ACTUARY. A qualified actuary
who is appointed in accordance with the valuation manual to prepare the actuarial opinion
required in subsection (b) of Section 27-36A-4. (3) COMPANY. An entity, which (i) has
written, issued, or reinsured life insurance contracts, accident and health insurance contracts,
or deposit-type contracts in this state and has at least one such policy in force or on claim
or (ii) has written, issued, or reinsured life insurance contracts, accident and health insurance
contracts, or deposit-type contracts in any state and is required to hold a...
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27-41-27
Section 27-41-27 Particular investments - Securities, etc., of foreign countries. (a)
An insurer may invest in securities or other investments (1) issued in, (2) located in, (3)
denominated in the currency of, (4) whose ultimate payment amounts of principal or interest
are subject to fluctuations in the currency of, or (5) whose obligors are domiciled in countries
other than the United States or Canada, which are substantially of the same kinds and classes
as those authorized for investment under this chapter. (b) Subject to the limitations in subsection
(c): (1) An investment of an insurer authorized under subsection (a) in any one foreign jurisdiction
whose sovereign debt has a 1 designation from the Securities Valuation Office shall not exceed
10 percent of the admitted assets of the insurer. (2) An investment of an insurer authorized
under subsection (a) in any one foreign jurisdiction whose sovereign debt has a 2 or 3 designation
from the Securities Valuation Office may not exceed...
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35-8A-409
Section 35-8A-409 Resales of units. (a) Except in the case of a sale where delivery
of an offering statement is required, or unless exempt under Section 35-8A-401(b),
a unit owner upon written request by a purchaser of a unit previously disposed of, which written
request must be made within 14 days of the date the purchaser signs the contract with a purchaser,
shall furnish to a purchaser before the conveyance and in any event within 15 days of receipt
of the written request, a copy of the declaration, the bylaws, the rules, and the regulations
of the association, and a certificate containing: (1) A statement setting forth the amount
of the periodic common expense assessment; (2) A statement setting forth the amount of any
unpaid common expense or special assessments against the unit either past due or then due
owing; (3) A statement of any other assessments or fees assessed against the unit or the unit
owner either past due or then due and owing; (4) The most recent regularly prepared...
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