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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
27-15-28.1
Section 27-15-28.1 Standard nonforfeiture law for individual deferred annuities - Annuity
contracts issued by election under this section until June 30, 2006. (a) This section
shall be known as the standard nonforfeiture law for individual deferred annuities. (b) This
section shall not apply to any reinsurance group annuity purchased under a retirement
plan or plan of deferred compensation established or maintained by an employer (including
a partnership or sole proprietorship) or by an employee organization, or by both, other than
a plan providing individual retirement accounts or individual retirement annuities under Section
408 of the Internal Revenue Code, as now or hereafter amended, premium deposit fund, variable
annuity, investment annuity, immediate annuity, any deferred annuity contract after annuity
payments have commenced or reversionary annuity, nor to any contract which shall be delivered
outside this state through an agent or other representative of the company issuing...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-28.1.htm - 12K - Match Info - Similar pages
27-5B-7
Section 27-5B-7 Reinsurer maintaining a trust fund. (a) Credit shall be allowed when
the reinsurance is ceded to an assuming insurer that maintains a trust fund in a qualified
U.S. financial institution, as defined in subsection (b) of Section 27-5B-15, for the
payment of the valid claims of its U.S. ceding insurers, their assigns and successors in interest.
To enable the commissioner to determine the sufficiency of the trust fund, the assuming insurer
shall report annually to the commissioner information substantially the same as that required
to be reported on the NAIC Annual Statement form by licensed insurers. The assuming insurer
shall submit to examination of its books and records by the commissioner and bear the expense
of examination. (b)(1) Credit for reinsurance shall not be granted under this section
unless the form of the trust and any amendments to the trust have been approved by either:
a. The commissioner of the state where the trust is domiciled. b. The commissioner of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5B-7.htm - 7K - Match Info - Similar pages
25-14-9
Section 25-14-9 Written contract; rights and duties of clients; employees, and professional
employer organizations. (a) All professional employer organization arrangements shall have
a written contract between the client and the professional employer organization recognizing
the rights, responsibilities, and duties of each party. The contract shall disclose to the
client the services to be rendered by the professional employer organization, including the
total administrative fees charged for professional employer organization services, the respective
rights and obligations of the parties, and shall provide the following: (1) The professional
employer organization reserves a right of direction and control over contract employees and
exercises that right in the context of the need to do so according to the terms and conditions
of the professional employment agreement. The client, however, as an employer, may retain
sufficient direction and control over covered employees necessary to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-14-9.htm - 12K - Match Info - Similar pages
27-1-22
Section 27-1-22 Uniform prescription drug information card or technology. (a) Every
health benefit plan that provides coverage for prescription drugs or devices, or administers
a plan, including, but not limited to, third party administrators for self-insured plans and
state administered plans, excluding the Alabama Medicaid Program, shall issue to its insureds
a card or other technology containing prescription drug information. The uniform prescription
drug information card or technology shall be in the format approved by the National Council
for Prescription Drug Programs (NCPDP) and shall include all of the required fields and conform
to the most recent pharmacy ID card or technology implementation guide produced by NCPDP or
conform to a national format acceptable to the Commissioner of Insurance. If a health care
plan includes a conditional or situational field, it shall conform to the most recent pharmacy
information card or technology implementation guide by the NCPDP or conform...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-1-22.htm - 3K - Match Info - Similar pages
27-15-24
Section 27-15-24 Exclusions and restrictions in life insurance policies. (a) No policy
of life insurance shall be delivered or issued for delivery in this state if it contains any
of the following provisions: (1) A provision for a period shorter than that provided by statute
within which an action may be commenced on such a policy; and (2) A provision which excludes
or restricts liability for death caused in a certain specified manner or occurring while the
insured has a specified status; except, that a policy may contain provisions excluding or
restricting coverage as specified therein in the event of death under any one or more of the
following circumstances: a. Death as a result, directly or indirectly, of war, declared or
undeclared, or of action by military forces, or of any act or hazard of such war or action,
or of service in the military, naval, or air forces or in civilian forces auxiliary thereto,
or from any cause while a member of such military, naval, or air forces of any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-24.htm - 3K - Match Info - Similar pages
36-30-50
Section 36-30-50 Supplemental insurance coverage for firefighters with cancer. (a) For
the purposes of this section, the following terms shall have the following meanings:
(1) CANCER. Includes bladder, blood, brain, breast, cervical, esophageal, intestinal, kidney,
lymphatic, lung, prostate, rectum, respiratory tract, skin, testicular, and thyroid cancer,
leukemia, multiple myeloma, Hodgkin's lymphoma, and non-Hodgkin's lymphoma. (2) CAREER FIREFIGHTER.
Any person employed with the state, a county or municipal government, an airport authority,
or a fire district who has obtained certification as a firefighter through and as defined
by the Alabama Firefighters' Personnel Standards and Education Commission, or a firefighter
employed by the Alabama Forestry Commission who has been certified by the State Forester as
having met the wild land firefighter training standard of the National Wildfire Coordinating
Group, and is offered typical employment benefits, including health insurance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-30-50.htm - 10K - Match Info - Similar pages
41-29-501
Section 41-29-501 Definitions. (a) For the purposes of this article, the following words
and phrases shall have the following meanings: (1) AUTHORITY. The public corporation organized
pursuant to the provisions of Sections 41-10-20 through 41-10-32. (2) AUTHORIZED PURPOSE.
Any one or more of the purposes for which grants are herein authorized to be made as specified
in Section 41-29-503(a). (3) BOARD OF DIRECTORS. The board of directors of the authority.
(4) BOND. The bonds issued under the provisions of this article. (5) CAPITAL COSTS. All costs
and expenses incurred by one or more investing companies in connection with the acquisition,
construction, installation, and equipping of a qualifying project during the period commencing
with the date on which such acquisition, construction, installation, and equipping commences
and ending on the date on which the qualifying project is placed in service, including, without
limitation of all of the following: a. The costs of acquiring,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-29-501.htm - 7K - Match Info - Similar pages
27-41-29
Section 27-41-29 Particular investments - Bonds, etc., secured by mortgages or deeds
of trust on real property, etc., generally. An insurer may invest in: (1) Bonds, notes, or
other evidences of indebtedness which are secured by a first mortgage lien or deed of trust
upon unencumbered improved real property located in the United States or Canada, including
leasehold estates in such real estate having an unexpired term (inclusive of the term or terms
which may be provided by options of renewal) of not less than 10 years beyond the final maturity
of the loan. Unless guaranteed or insured by the Administrator of Veterans Affairs, the Secretary
of Housing and Urban Development, or by a mortgage guaranty insurance policy issued by an
insurance company licensed and authorized to do business by and in the State of Alabama, no
such mortgage loan or loans when made shall exceed 75 percent of the fair value of the real
estate or leasehold, except that loans made on single family dwellings shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-29.htm - 3K - Match Info - Similar pages
22-6-151
Section 22-6-151 Regional care organizations; governing board of directors; citizen's
advisory committee; solvency and financial requirements; reporting; provider standards committee.
(a) A regional care organization shall serve only Medicaid beneficiaries in providing medical
care and services. (b) Notwithstanding any other provision of law, a regional care organization
shall not be deemed an insurance company under state law. (c)(1) A regional care organization
and an organization with probationary regional care organization certification shall have
a governing board of directors composed of the following members: a. Twelve members shall
be persons representing risk-bearing participants in the regional care organization or organization
with probationary certification. A participant bears risk by contributing cash, capital, or
other assets to the regional care organization. A participant also bears risk by contracting
with the regional care organization to treat Medicaid beneficiaries...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-6-151.htm - 9K - Match Info - Similar pages
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