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27-32-25
Section 27-32-25 Loans to facilitate rehabilitation, etc., of insurer. For the purpose of facilitating
the rehabilitation, liquidation, conservation, or dissolution of an insurer pursuant to this
chapter, the commissioner may, subject to the approval of the court, borrow money and execute,
acknowledge, and deliver notes, or other evidences of indebtedness therefor, and secure the
repayment of the same by the mortgage, pledge, assignment, transfer in trust, or hypothecation
of any, or all, of the property, whether real, personal, or mixed, of such insurer, and the
commissioner, subject to the approval of the court, shall have power to take any and all other
action necessary and proper to consummate any such loan and to provide for the repayment thereof.
The commissioner shall be under no obligation personally or in his official capacity to repay
any loan made pursuant to this section. (Acts 1971, No. 407, p. 707, ยง644.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-25.htm - 1K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-27.htm - 3K - Match Info - Similar pages
27-55-3
Section 27-55-3 Prohibited practices; disclosure of information. (a) No insurer may: (1) Deny,
refuse to issue, renew, or reissue, cancel, or otherwise terminate, restrict, or exclude coverage
on an insurance policy or health benefit plan on the basis of an applicant's or insured's
abuse status, or on the basis of any association, relationship, or assistance to a subject
of abuse. (2) Exclude or limit coverage for a loss, deny benefits, or deny a claim on the
basis of the insured's abuse status, or on the basis of any association, relationship, or
assistance to a subject of abuse, except as otherwise permitted or required by the laws of
this state relating to acts of abuse committed by a life insurance beneficiary. Notwithstanding
anything to the contrary in this section, a liability insurer may include policy provisions
providing that a payment required by this subsection may be denied or, if paid, recovered
by the insurer from the insured, if the claim arose out of an act of abuse by...
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8-19A-4
Section 8-19A-4 Exemptions. The provisions of this chapter do not apply to: (1) A person engaging
in commercial telephone solicitation where the solicitation is an isolated transaction and
not done in the course of a pattern of repeated transactions of like nature. (2) A person
making calls for religious, charitable, political, educational, or other noncommercial purposes
or a person soliciting for a nonprofit corporation if that corporation is properly registered
with the Secretary of State and is included within the exemption of the Alabama Revenue Code
or Section 501(c)(3) of the Internal Revenue Code or rural electric cooperatives formed under
Chapter 6 of Title 37 of the Code of Alabama or affiliates or subsidiaries thereof. (3) A
person soliciting: a. Without the intent to complete or obtain provisional acceptance of a
sale during the telephone solicitation. b. Who does not make the major sales presentation
during the telephone solicitation. c. Without the intent to complete, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-19A-4.htm - 9K - Match Info - Similar pages
27-14-19.1
Section 27-14-19.1 Electronic delivery of property or casualty insurance policy. (a) As used
in this section, each of the following words shall have the following meanings: (1) DELIVERED
BY ELECTRONIC MEANS or ELECTRONIC DELIVERY. Any of the following: a. Delivery to an electronic
mail address at which a party has consented to receive notices or documents. b. Posting on
an electronic network or site accessible via the Internet, mobile application, computer, mobile
device, tablet, or any other electronic device, together with separate notice of the posting
which shall be provided 1. by electronic mail to the address at which the party has consented
to receive notice or 2. by any other delivery method that has been consented to by the party.
(2) PARTY. A recipient of any notice or document required as part of an insurance transaction,
including, but not limited to, an applicant, an insured, a policyholder, or an annuity contract
holder. (b) Subject to the requirements of this section,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-19.1.htm - 7K - Match Info - Similar pages
27-29B-7
Section 27-29B-7 NAIC and third-party consultants. (a) The commissioner, at the insurer's expense,
may retain third-party consultants, including attorneys, actuaries, accountants, and other
experts not otherwise a part of the staff of the commissioner as may be reasonably necessary
to assist the commissioner in reviewing the CGAD and related information or the insurer's
compliance with this chapter. (b) Any persons retained under subsection (a) shall be under
the direction and control of the commissioner and shall act in a purely advisory capacity.
(c) The NAIC and third-party consultants shall be subject to the same confidentiality standards
and requirements as the commissioner. (d) As part of the retention process, a third-party
consultant shall verify to the commissioner, with notice to the insurer, that it is free of
a conflict of interest and that it has internal procedures in place to monitor compliance
with a conflict and to comply with the confidentiality standards and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29B-7.htm - 3K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-42-9.htm - 3K - Match Info - Similar pages
27-4A-2
Section 27-4A-2 Definitions. For the purposes of this chapter only, the following terms, unless
the context clearly indicates otherwise, shall have the meanings: (1) ANNUITY CONSIDERATIONS.
All sums received as consideration for annuity contracts. (2) COMMISSIONER. The Commissioner
of Insurance of the State of Alabama. (3) DEPARTMENT. The Department of Insurance of the State
of Alabama. (4) DOMESTIC INSURER. Any insurer organized under the laws of the State of Alabama
which maintains its principal office and chief place of business in the State of Alabama.
(5) FOREIGN INSURER. Any insurer organized under the laws of any country or of any state of
the United States other than the State of Alabama and any insurer organized under the laws
of Alabama which maintains its principal office or chief place of business outside the State
of Alabama. (6) INSURER. Every insurer as defined in Section 27-1-2, and every other insurance
company or association charging a premium for contracts entered...
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27-6B-2
Section 27-6B-2 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACCREDITED STATE.
A state in which the Department of Insurance meets the minimum financial qualifications and
regulatory standards promulgated and established, from time to time, by the National Association
of Insurance Commissioners. (2) COMMISSIONER. The Commissioner of Insurance. (3) CONTROL or
CONTROLLED. The same as defined in Section 27-29-1. (4) CONTROLLED INSURER. A licensed insurer
who is controlled, directly or indirectly, by a producer. (5) CONTROLLING PRODUCER. A producer
who, directly or indirectly, controls an insurer. (6) LICENSED INSURER or INSURER. Any person,
firm, association, or corporation duly licensed to transact a property and casualty insurance
business in this state. For the purposes of this chapter, the following are not licensed insurers:
a. A residual market pool and a joint...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6B-2.htm - 2K - Match Info - Similar pages
27-7-5.3
Section 27-7-5.3 Licenses - Limited license for self-service storage facility. (a) As used
in this section, the following terms shall have the following meanings: (1) LIMITED LICENSEE.
A person or entity authorized to sell certain coverages for personal property maintained in
self-service storage facilities pursuant to this section. (2) OCCUPANT. A person, his or her
sublessee, successor, or assign entitled to the use of the storage space at a self-service
storage facility under a rental agreement, to the exclusion of others. (3) OWNER. The owner,
operator, lessor, or sublessor of a self-service storage facility, his or her agent, or any
other person authorized by him or her to manage the self-service storage facility or to receive
rent from an occupant under a rental agreement. (4) PERSONAL PROPERTY. Any movable property
not affixed to land including, but not limited to, goods, wares, merchandise, motor vehicles,
watercraft, and household items and furnishings. (5) RENTAL AGREEMENT....
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