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27-12A-2
Section 27-12A-2 Insurance fraud - definition. A person commits the crime of insurance fraud
if, knowingly and with intent to defraud, he or she commits, or conceals any material information
concerning, one or more of the following acts: (1) The solicitation or acceptance of new or
renewal insurance risks on behalf of an insurer, reinsurer, or other person engaged in the
transaction of the business of insurance, by a person who knows the insurer, reinsurer, or
other person responsible for the risk is financially unable to pay its claims at the time
of the transaction. (2) The removal, concealment, alteration, or destruction of the assets
or records relating to the transaction of the business of insurance of an insurer, reinsurer,
or other person engaged in the transaction of the business of insurance. This section does
not prohibit an insurer, reinsurer, or other person engaged in the transaction of the business
of insurance from destroying records or documents relating to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-12A-2.htm - 3K - Match Info - Similar pages
27-32-18
Section 27-32-18 Claims in delinquency proceedings - Residents against foreign insurers. (a)
In a delinquency proceeding in a reciprocal state against an insurer domiciled in that state,
claimants against such insurer who reside within this state may file claims either with the
ancillary receiver, if any, appointed in this state or with the domiciliary receiver. All
such claims must be filed on or before the last date fixed for the filing of claims in the
domiciliary delinquency proceedings. (b) Controverted claims belonging to claimants residing
in this state may either: (1) Be proved in the domiciliary state as provided by the law of
that state; or (2) If ancillary proceedings have been commenced in this state, be proved in
those proceedings. In the event that any such claimant elects to prove his claim in this state,
he shall file his claim with the ancillary receiver and shall give notice in writing to the
receiver in the domiciliary state, either by registered or certified mail or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-18.htm - 2K - Match Info - Similar pages
27-32-19
Section 27-32-19 Claims in delinquency proceedings - Form; time; notice and hearing; order.
(a) All claims against an insurer against which delinquency proceedings have been begun shall
set forth in reasonable detail the amount of the claim, or the basis upon which such amount
can be ascertained, the facts upon which the claim is based and the priorities asserted, if
any. All such claims shall be verified by the affidavit of the claimant, or someone authorized
to act on his behalf and having knowledge of the facts, and shall be supported by such documents
as may be material thereto. (b) All claims filed in this state shall be filed with the receiver,
whether domiciliary or ancillary, in this state on or before the last date for filing as specified
in this chapter. (c) Within 10 days of the receipt of any claim or within such further period
as the court may, for good cause shown, fix, the receiver shall report the claim to the court,
specifying in such report his recommendation with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-19.htm - 2K - Match Info - Similar pages
27-32-20
Section 27-32-20 Claims in delinquency proceedings - Priorities. (a) In a delinquency proceeding
against an insurer domiciled in this state, claims owing to residents of ancillary states
shall be preferred claims if like claims are preferred under the laws of this state. All such
claims owing to residents or nonresidents shall be given equal priority of payment from general
assets regardless of where such assets are located. (b) In a delinquency proceeding against
an insurer domiciled in a reciprocal state, claims owing to residents of this state shall
be preferred if like claims are preferred by the laws of that state. (c) The owners of special
deposit claims against an insurer for which a receiver is appointed in this or any other state
shall be given priority against their several special deposits in accordance with the provisions
of the statutes governing the creation and maintenance of such deposits. If there is a deficiency
in any such deposit so that the claims secured thereby...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-20.htm - 2K - Match Info - Similar pages
27-62-6
Section 27-62-6 Notification of cybersecurity event. (a) Each licensee shall notify the commissioner
as promptly as possible, but in no event later than three business days from a determination
that a cybersecurity event involving nonpublic information that is in the possession of a
licensee has occurred when either of the following criteria has been met: (1) This state is
the state of domicile of the licensee, in the case of an insurer, or this state is the home
state of the licensee, in the case of a producer, as those terms are defined in Section 27-7-1,
and the cybersecurity event has a reasonable likelihood of materially harming a consumer residing
in this state or reasonable likelihood of materially harming any material part of the normal
operation of the licensee. (2) The licensee reasonably believes that the nonpublic information
involves 250 or more consumers residing in this state and the cybersecurity event is either
of the following: a. A cybersecurity event impacting the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-62-6.htm - 7K - Match Info - Similar pages
27-32-17
Section 27-32-17 Claims in delinquency proceedings - Nonresidents against domestic insurers.
(a) In a delinquency proceeding begun in this state against a domestic insurer, claimants
residing in reciprocal states may file claims either with the ancillary receivers, if any,
in their respective states or with the domiciliary receiver. All such claims must be filed
on or before the last date fixed for the filing of claims in the domiciliary delinquency proceedings.
(b) Controverted claims belonging to claimants residing in reciprocal states may either: (1)
Be proved in this state; or (2) If ancillary proceedings have been commenced in such reciprocal
states, may be proved in those proceedings. In the event a claimant elects to prove his claim
in ancillary proceedings, if notice of the claim and opportunity to appear and be heard is
afforded the domiciliary receiver of this state as provided in Section 27-32-18 with respect
to ancillary proceedings in this state, the final allowance of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-17.htm - 1K - Match Info - Similar pages
27-42-5
Section 27-42-5 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACCOUNT. Any one
of the three accounts created by Section 27-42-6. (2) AFFILIATE. A person who directly, or
indirectly, through one or more intermediaries, controls, is controlled by, or is under common
control with another person on December 31 of the year immediately preceding the date the
insurer becomes an insolvent insurer. (3) ASSOCIATION. The Alabama Insurance Guaranty Association
created under Section 27-42-6. (4) CLAIMANT. Any insured making a first party claim or any
person instituting a liability claim. The term does not include a person who is an affiliate
of an insolvent insurer. (5) COMMISSIONER. The Commissioner of Insurance of the State of Alabama.
(6) CONTROL. The possession, direct or indirect, of the power to direct or cause the direction
of the management and policies of a person, whether...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-42-5.htm - 5K - Match Info - Similar pages
27-32-31
Section 27-32-31 Claims upon liquidation of insurer - Time to file. (a) If, upon the granting
of an order of liquidation under this chapter or at any time thereafter during the liquidation
proceedings, the insurer shall not be clearly solvent, the court shall, after such notice
and hearing as it deems proper, make an order declaring the insurer to be insolvent. Thereupon,
regardless of any prior notice which may have been given to creditors, the commissioner shall
notify all persons who may have claims against the insurer and who have not filed proper proofs
thereof to present the same to him at a place specified in such notice, within four months
from the date of entry of such order or, if the commissioner certifies that it is necessary,
within such longer time as the court shall prescribe. The last day for filing of proofs of
claims shall be specified in the notice, and notice shall be given in a manner to be determined
by the court. (b) Proofs of claim may be filed subsequent to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-31.htm - 1K - Match Info - Similar pages
8-33-7
Section 8-33-7 Form and contents of warranty. (a) Every vehicle protection product warranty
in its entirety shall be written, printed, or typed in eight point type size or larger and
shall not be sold or offered for sale in this state unless the warranty: (1) States that the
obligations of the warrantor to the warranty holder are guaranteed under a warranty reimbursement
insurance policy if the warrantor elects to meet its financial responsibility obligations
under subsection (b) of Section 8-33-5 or states that the obligations of the warrantor under
the warranty are backed by the full faith and credit of the warrantor if the warrantor elects
to meet its financial responsibility obligations under subsection (c) of Section 8-33-5. (2)
States that in the event a warranty holder must make a claim against a party other than the
warranty reimbursement insurance policy issuer, the warranty holder is entitled to make a
direct claim against the insurer upon the failure of the warrantor to pay...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-7.htm - 3K - Match Info - Similar pages
10A-5-6.06
Section 10A-5-6.06 Cessation of membership. REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144
EFFECTIVE JANUARY 1, 2017. (a) A person ceases to be a member of a limited liability company
upon the occurrence of one or more of the following events: (1) The member ceases to be a
member by voluntary act as provided in subsection (d). (2) The member ceases to be a member
of the limited liability company as provided in Section 10A-5-6.03. (3) The member is removed
as a member in either of the following manners: a. In accordance with the operating agreement.
b. Subject to contrary provisions in the operating agreement, when the member assigns all
of the member's interest in the limited liability company, by an affirmative vote of a majority
in number of the members who have not assigned their interests. (b) Subject to contrary provisions
in the operating agreement, or written consent of all members at the time, a person ceases
to be a member upon the occurrence of one or more of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5-6.06.htm - 6K - Match Info - Similar pages
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