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27-6-16
Section 27-6-16 Release of deposit - Filing of statement; authorization of release.
(a) Before authorizing the release of any deposit or excess portion thereof to the insurer,
as provided in Section 27-6-15, the commissioner shall require the insurer to file
with him a statement under its seal and the oath of its chief executive officer, or of its
United States manager in the case of an alien insurer, setting forth the facts upon which
it bases its entitlement to such release. (b) If release of the deposit is claimed by the
insurer upon the ground that its liabilities in this state, as to which the deposit was originally
made and is held, have been assumed by another insurer authorized to transact insurance in
this state, the insurer shall file with the commissioner a copy of the contract or agreement
of such reinsurance. (c) Upon being satisfied by such statement and such other information
and evidence as he may reasonably require and by such examination, if any, of the affairs
of the...
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27-6-15
Section 27-6-15 Release of deposit - Generally. (a) All deposits in this state made
under this title shall be held on deposit as long as there is outstanding any liability of
the insurer with respect to which the deposit was made. (b) Any such deposit shall be released
and returned: (1) To the insurer upon extinguishment by reinsurance in an insurer authorized
to transact such insurance in this state, or otherwise, of all liability of the insurer for
the security of which the deposit is held; (2) To the insurer during solvency, to the extent
such deposit is in excess of the amount required; or (3) Upon proper order of a court of competent
jurisdiction, to the receiver, conservator, rehabilitator, or liquidator of the insurer or
to any other properly designated official, or officials, who succeed to the management and
control of the insurer's assets. (c) The Treasurer shall release any such deposit, or part
thereof, upon written authorization of the commissioner and of the insurer or...
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39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a)
As used in this section the following words shall have the meanings ascribed to them
as follows: (1) CONTRACTOR. Any natural person, partnership, company, firm, corporation, association,
limited liability company, cooperative, or other legal entity licensed by the Alabama State
Licensing Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is
neither a. organized and existing under the laws of the State of Alabama, nor b. maintains
its principal place of business in the State of Alabama. A nonresident contractor which has
maintained a permanent branch office within the State of Alabama for at least five continuous
years shall not thereafter be deemed to be a nonresident contractor so long as the contractor
continues to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging
to the contractor which has been retained by the awarding authority conditioned on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-2-12.htm - 18K - Match Info - Similar pages
27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus
Lines Insurance Multi-State Compliance Compact Act is enacted into law and entered into with
all jurisdictions mutually adopting the compact in the form substantially as follows: PREAMBLE
WHEREAS, with regard to Non-Admitted Insurance policies with risk exposures located in multiple
states, the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted
and Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
27-13-72
Section 27-13-72 Application for uniform percentage increase or decrease in rates by
insurers. (a) Any insurer may apply to the commissioner for permission to effect a uniform
percentage increase or decrease in the rates applied to all kinds of a particular class in
the state in a particular kind, or kinds, of insurance. Upon the filing of such application,
the commissioner shall give notice thereof by registered or certified mail to the rating organization,
if any, of which such insurer is a member or subscriber and shall fix a time and place for
a hearing upon the merits of such application. At such hearing, such insurer and such rating
organization, or their representatives, shall be entitled to be heard and to present evidence
in support of, or against, such application. The commissioner shall, upon the conclusion of
such hearing, make such order as he shall deem consistent with the establishment and maintenance
of reasonable, adequate, and nondiscriminatory rates. If the...
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27-10-35
Section 27-10-35 Report of, and tax on, independently procured coverages; exceptions.
(a) Anyone who may desire to place his insurance in a foreign insurer not authorized to do
business in this state may place such insurance, and any insured who in this state procures,
or causes to be procured, or continues or renews insurance in an unauthorized foreign insurer
or any self-insurer who in this state so procures or continues excess loss, catastrophe, or
other insurance, upon a subject of insurance resident, located or to be performed within this
state, other than insurance procured through a surplus line broker pursuant to the surplus
lines law of this state or exempted from such law under Section 27-10-34 shall, within
90 days after the date such insurance was so procured, continued, or renewed, file a written
report of the same with the commissioner on forms designated by the commissioner and furnished
to such an insured upon request. The report shall show the name and address of the...
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27-13-33
Section 27-13-33 Applications for uniform percentage increase or decrease of rates by
insurers. Any insurer may apply to the commissioner for permission to effect a uniform percentage
increase or decrease in the rates applied to all risks of a particular class in the state
in a particular kind, or kinds, of insurance. Upon the filing of such application, the commissioner
shall give notice thereof by registered or certified mail to the rating organization, if any,
of which such insurer is a member or subscriber and shall fix a time and place for a hearing
upon the merits of such application. At such hearing, such insurer and such rating organization,
or their representatives, shall be entitled to be heard and to present evidence in support
of, or against, such application. The commissioner shall, upon the conclusion of such hearing,
make such order as he shall deem consistent with the establishment and maintenance of reasonable,
adequate and non-discriminatory rates. If the application...
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9-16-89
Section 9-16-89 Performance bonds and bond releases. (a) After a surface coal mining
and reclamation permit application has been approved but before such a permit is issued, the
applicant shall file with the regulatory authority, on a form prescribed and furnished by
the regulatory authority, a bond for performance payable to the state and conditioned upon
faithful performance of all the requirements of this article and the permit. The bond shall
cover all lands disturbed by the surface coal mining operation and the amount of the initial
bond shall be such to cover that area of land within the permit area upon which the operator
will initiate and conduct surface coal mining and reclamation operations within the initial
term of the permit. As succeeding increments of surface coal mining and reclamation operations
are to be initiated and conducted within the permit area, the permittee shall file with the
regulatory authority an additional bond or bonds to cover such increments in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/9-16-89.htm - 10K - Match Info - Similar pages
27-33-13
Section 27-33-13 Trusteed assets - Withdrawal. (a) The trust agreement shall provide,
in substance, that no withdrawals of trusteed assets shall be made by the insurer or permitted
by the trustee without the written authorization or approval of the commissioner in advance
thereof except as follows: (1) Any or all income, earnings, dividends, or interest accumulations
of the trusteed assets may be paid over to the United States manager of the insurer upon request
of the insurer or the manager; (2) For substitution, coincidentally with such withdrawal,
of other securities or assets of value at least equal in amount to those being withdrawn,
if such substituted securities or assets are likewise such as are eligible for investment
of the funds of like domestic insurers and if such withdrawal is requested in writing by the
insurer's United States manager pursuant to general or specific written authority previously
given or delegated by the insurer's board of directors, or other similar...
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35-8A-410
Section 35-8A-410 Escrow of deposits. (a) As used in this section, except as
otherwise provided, the following terms shall have the following meanings: (1) HARD COSTS.
Any and all costs associated with the actual building and construction of the condominium
project, including, but not limited to, site preparation, building materials, shell features,
interior enclosures, fit-out costs, mechanical and electrical systems, and fixtures. The term
hard costs does not include financing costs, compensation paid to architects, engineers, consultants,
sales persons, or attorneys or for advertising or other marketing costs. (2) QUALIFIED PURCHASER.
a. An individual, a group of individuals, or an entity owned directly or indirectly solely
by individuals where each individual shall have an income of more than two hundred thousand
dollars ($200,000) for the calendar year immediately preceding the date of the purchaser's
signing of the purchase contract, or a joint income with his or her spouse of...
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