25-5-253
Section 25-5-253 Bylaws. (a) Within 120 days after their appointment, the board of directors shall propose to the Secretary of the Department of Labor a set of bylaws for the operation and administration of the association. The bylaws shall not be effective until approved by the Secretary of the Department of Labor. If the board of directors fails to submit bylaws or if the Secretary of the Department of Labor does not approve the submitted bylaws, then the Secretary of the Department of Labor may promulgate, subject to the provisions of the Administrative Procedure Act, appropriate rules and regulations for the administration of the association. (b) The bylaws may be amended from time to time by proposal of the board of directors approved by the Secretary of the Department of Labor. (c) The bylaws shall contain: (1) Provisions governing the administration of the association. (2) Provisions governing managing the assets of the association and its financial record keeping. (3)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-253.htm - 1K - Match Info - Similar pages
45-37-123.22
Section 45-37-123.22 Powers and duties of the pension board. (a) The pension board shall be responsible for the general administration and proper operation of the plan, and shall administer the plan for the exclusive benefit of the members and their beneficiaries, subject to the specific terms of the plan. The pension board shall administer the plan in accordance with its terms and shall have the power and discretion to construe the terms of the plan and the act and to determine all questions arising in connection with the administration, interpretation, and application of the plan. Any such determination by the pension board shall be conclusive and binding upon all persons. The pension board may establish procedures, correct any defect, supply any information, or reconcile any inconsistency in such manner and to such extent as shall be deemed necessary or advisable to carry out the purpose of the plan; provided, however, that any procedure, discretionary act, interpretation, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.22.htm - 5K - Match Info - Similar pages
27-44-6
Section 27-44-6 Creation of association; membership; accounts; supervision. (a) There is created a nonprofit unincorporated legal entity to be known as the Alabama Life and Disability Insurance Guaranty Association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under the plan of operation established and approved under Section 27-44-10 and shall exercise its powers through a board of directors established under Section 27-44-7. For purposes of administration and assessment the association shall maintain three accounts: (1) The disability insurance account; (2) The life insurance account; and (3) The annuity account. (b) The association shall come under the immediate supervision of the commissioner and shall be subject to the applicable provisions of the insurance laws of this state. (Acts 1982, No. 82-561, p. 922, ยง6.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-6.htm - 1K - Match Info - Similar pages
11-89-32
Section 11-89-32 Procedure to form special corporation. (a) In order to provide for operation and financing of one or more, but not all, of its authorized services under Chapter 89, Title 11, by following the procedures set out in this article, any district may establish a separate public corporation and grant to it the power to finance and operate any, but not all, of the authorized services of the district. If any district may, by its certificate of incorporation, provide more than one of fire protection service, sewer service, or water service in its service area, it may provide that any one or more of the services, but not all of them, may be operated and financed through a special corporation organized pursuant to this article. The procedure to organize a special corporation is as follows: The board shall adopt a resolution specifying that it is necessary or expedient that a special corporation be organized pursuant to this article to operate and finance one or more, but not all,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89-32.htm - 4K - Match Info - Similar pages
27-31A-4
Section 27-31A-4 Risk retention groups not chartered in this state. Risk retention groups chartered and licensed in states other than this state and seeking to do business as a risk retention group in this state shall comply with the laws of this state as follows: (1) NOTICE OF OPERATIONS AND DESIGNATION OF COMMISSIONER AS AGENT. a. Before offering insurance in this state, a risk retention group shall submit to the commissioner both of the following: 1. A statement identifying the state or states in which the risk retention group is chartered and licensed as a liability insurance company, charter date, its principal place of business, and other information, including information on its membership, as the commissioner of this state may require to verify that the risk retention group is qualified pursuant to subdivision (11) of Section 27-31A-2. 2. A copy of its plan of operations or feasibility study and revisions of the plan or study submitted to the state in which the risk retention...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31A-4.htm - 8K - Match Info - Similar pages
11-89C-4
Section 11-89C-4 Powers of public corporation; requirements for development or adoption of rules, procedures, ordinances, etc. (a) When expressly required to comply with storm water laws, any public corporation created pursuant to this chapter shall have the following powers: (1) To establish, maintain, and operate an organizational structure pursuant to this chapter, its original or amended certification, and its bylaws or other rules of procedure, that will enable it to implement the storm water laws for and on behalf of any governing body that exercises the option to participate in or with a public corporation, provided that no new or greater authorities or powers other than those specifically granted to the governing bodies are conferred upon any public corporation formed pursuant to this chapter. Except for the authority provided in subdivision (20), authority to enforce the storm water laws is retained wholly and exclusively to the governing bodies and may not be further...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-89C-4.htm - 10K - Match Info - Similar pages
11-91A-2
Section 11-91A-2 Local Government Health Insurance Board; governance and administration of program. (a) The Local Government Health Insurance Board shall govern and administer the Local Government Health Insurance Program currently governed and administered by the State Employees' Insurance Board (SEIB) pursuant to Chapter 29 of Title 36. The transfer of the governance and administration to the board shall take effect at 12:01 a.m. on January 1, 2015, and thereafter the board shall take all control and responsibility for the program under procedures and authority set out in this chapter. (b) The program governed and administered by the board shall provide a reasonable relationship between the health care benefits to be included and the expected health care expenses to be incurred by affected employees, retirees, and their dependents. The board may establish a fully insured or self-insured health care plan for employees and retirees as defined in this chapter and may adopt rules for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-91A-2.htm - 5K - Match Info - Similar pages
27-52-2
Section 27-52-2 Authority. The plan shall have the general powers and authority granted under the laws of this state to health insurers and in addition thereto, the specific authority to do all of the following: (1) Enter into contracts as are necessary or proper to carry out the provisions and purposes of this article, including the authority, with the approval of the commissioner, to enter into contracts with similar plans of other states for the joint performance of common administrative functions, or with persons or other organizations for the performance of administrative functions. (2) Sue or be sued, including taking any legal actions necessary or proper to recover or collect assessments due the plan. (3) Take legal action as necessary to do any of the following: a. To avoid the payment of improper claims against the plan or the coverage provided by or through the plan. b. To recover any amounts erroneously or improperly paid by the plan. c. To recover any amounts paid by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-52-2.htm - 3K - Match Info - Similar pages
5-2A-63
Section 5-2A-63 Savings and Loan Board; appeals from orders, etc., of commissioner or board. (a) There is hereby created a Savings and Loan Board, consisting of the Savings and Loan Commissioner, who shall be the ex officio chairman of the board and four persons who shall be appointed by the Governor and who shall be persons with actual practical experience for at least three years in the operation and management of an institution of the savings and loan type. The members of the board shall serve without compensation; except that members shall be paid their travelling expenses in connection with the performance of their duties as members of the board plus $10.00 per diem while engaged in the performance of such duties. Such travelling expenses shall be paid out of the treasury. The board shall have such rights, powers and privileges and shall be subject to such duties as are provided by Chapter 16 of this title. The board shall maintain in the office of the commissioner permanent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-2A-63.htm - 4K - Match Info - Similar pages
27-29B-3
Section 27-29B-3 Disclosure requirement. (a) Not later than June 1 of each calendar year, an insurer or the insurance group of which the insurer is a member, shall submit to the commissioner a Corporate Governance Annual Disclosure that contains the information described in Section 27-29B-5. Notwithstanding any request from the commissioner made pursuant to subsection (c), if the insurer is a member of an insurance group, the insurer shall submit the report required by this section to the commissioner of the lead state for the insurance group in accordance with the laws of the lead state as determined by the procedures outlined in the most recent Financial Analysis Handbook adopted by the NAIC. (b) The CGAD shall include a signature of the insurer or insurance group's chief executive officer or corporate secretary attesting to the best of that individual's belief and knowledge that the insurer has implemented the corporate governance practices and that a copy of the disclosure has been...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29B-3.htm - 3K - Match Info - Similar pages
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