45-8A-22.118
Section 45-8A-22.118 Maximum benefits; limitations; adjustments. (a) Annual Benefit and Final Regulations Under Internal Revenue Code Section 415. (1) Annual Benefit. For purposes of this section, "annual benefit" means the benefit payable annually under the terms of the plan, exclusive of any benefit not required to be considered for purposes of applying the limitations of Internal Revenue Code Section 415 to the plan, in the form of a straight life annuity with no ancillary benefits. If the benefit is payable in any other form, the annual benefit shall be adjusted to the equivalent of a straight life annuity pursuant to subsection (c). (2) Final Regulations Under Internal Revenue Code Section 415. Notwithstanding anything in this section to the contrary, the following provisions apply beginning on or after January 1, 1976, except as otherwise provided in this section. a. Incorporation by Reference. The limitations, adjustments, and other requirements prescribed in the plan shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-8A-22.118.htm - 30K - 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
25-14-4
Section 25-14-4 Construction of provisions; scope of business; taxation; competitive bidding; employment information provided by professional employer organization. (a) Neither this chapter nor a professional employer agreement may affect, modify, or amend any collective bargaining agreement, or the rights or obligations of any client, professional employer organization, or covered employee under the federal National Labor Relations Act, or any other similar law. (b) Neither this chapter nor a professional employer agreement may affect, modify, or amend any state, local, or federal licensing, registration, or certification requirement applicable to any professional employer organization, client, or covered employee. (c) A covered employee who is required to be licensed, registered, or certified according to law or regulation is solely an employee of the client for purposes of the license, registration, or certification requirement. (d) A professional employer organization does not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-14-4.htm - 3K - 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
27-14-32
Section 27-14-32 Exemption from debt of proceeds - Annuity contracts. (a) The benefits, rights, privileges, and options which under any annuity contract, heretofore or hereafter issued, are due or prospectively due the annuitant shall not be subject to execution, nor shall the annuitant be compelled to exercise any such rights, powers, or options, nor shall creditors be allowed to interfere with or terminate the contract, except: (1) As to amounts paid for or as premium on any such annuity with intent to defraud creditors, with interest thereon, and of which the creditor has given the insurer written notice at its home office prior to the making of the payments to the annuitant out of which the creditor seeks to recover. Any such notice shall specify the amount claimed, or such facts as will enable the insurer to ascertain such amount, and shall set forth such facts as will enable the insurer to ascertain the insurance or annuity contract, the person insured or annuitant and the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-32.htm - 2K - Match Info - Similar pages
27-3-7
Section 27-3-7 Authority to transact insurance - Kind or combinations of kinds - Minimum paid-in capital stock and surplus. (a) To qualify for authority to transact any one kind of insurance, as defined in Chapter 5 of this title, or combination of kinds of insurance as shown below, an insurer applying for its original certificate of authority in this state after the effective date of this title or continuing such original certificate of authority shall possess and thereafter maintain unimpaired paid-in capital stock, if a stock insurer, or unimpaired surplus, if a foreign mutual or foreign reciprocal insurer, in amount not less than as applicable under the schedule below and shall possess when first so authorized such additional funds as surplus as are required under Section 27-3-8: Kind or kinds of insurance Minimum capital or surplus required Life $800,000.00 Disability 500,000.00 Life and disability 800,000.00 Property 300,000.00 Marine 300,000.00 Casualty 400,000.00 Surety...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-7.htm - 3K - Match Info - Similar pages
27-31B-8
Section 27-31B-8 Formation of captive insurance companies in this state. (a) A pure captive insurance company or a protected cell captive insurance company shall be formed as a stock or mutual insurer, or as a nonprofit or limited liability company with its capital divided into units and held by the stockholders, members, or other equivalent as allowed by law. (b) An association captive insurance company, an industrial insured captive insurance company, or a risk retention group may be formed in any of the following ways: (1) Organized as a stock insurer with its capital divided into share units and held by the stockholders, members, or other equivalent as allowed by law. (2) Organized as a mutual insurer without capital stock, the governing body of which is elected by the member organizations of its association. (3) Organized as a reciprocal insurer in accordance with Chapter 31 of this title. (4) Organized as a manager-managed limited liability company. (c) A captive insurance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-8.htm - 6K - 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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-55-3.htm - 8K - Match Info - Similar pages
2-19-61
Section 2-19-61 Permit required; fee and delinquency penalty. The proprietor, lessee, or manager of any cotton gin shall procure on or before July 1 of each year from the commissioner a permit to do business as a cotton ginner, the application for which shall be made upon forms to be furnished by the commissioner. The fee for the annual permit shall be established by the Board of Agriculture and Industries not to exceed one hundred dollars ($100), payable to the Commissioner of Agriculture and Industries for deposit to the credit of the Agricultural Fund, which shall accompany the application for the permit. If such permit fee is not paid within 45 days from the due date, a delinquent penalty of 15 percent shall be added. In the issuance of a permit the commissioner shall consider the responsibility and qualifications, as well as the capacity of the person or persons or corporation to engage in the ginning business, so far as to afford all reasonable facilities, conveniences, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-19-61.htm - 1K - Match Info - Similar pages
25-5-332
Section 25-5-332 Premium discount where drug-free workplace program implemented. (a) If an employer implements a drug-free workplace program substantially in accordance with this article, the employer shall qualify for certification for a five percent premium discount under the employer's workers' compensation insurance policy. (b) For each policy of workers' compensation insurance issued or renewed in the state on and after July 1, 1996, there shall be granted by the insurer a five percent reduction in the premium for the policy if the insured has been certified by the Department of Labor, Workers' Compensation Division, as having a drug-free workplace program which complies with the requirements of this article and has notified its insurer in writing of the certification. (c)(1) The premium discount provided by this section shall be applied to an insured's policy of workers' compensation insurance pro rata as of the date the insured receives certification by the Department of Labor,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-332.htm - 3K - Match Info - Similar pages
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