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27-6B-6
Section 27-6B-6 Penalties. (a) If the commissioner believes that the controlling producer or
any other person has not materially complied with this chapter, or any regulation or order
promulgated hereunder, after notice and opportunity to be heard, the commissioner may order
the controlling producer to cease placing business with the controlled insurer. (b) If it
was found that because of the material non-compliance that the controlled insurer or any policyholder
thereof has suffered any loss or damage, the commissioner may maintain a civil action or intervene
in an action brought by or on behalf of the insurer or policyholder for recovery of compensatory
damages for the benefit of the insurer or policyholder, or other appropriate relief. (c) If
an order for liquidation or rehabilitation of the controlled insurer has been entered, pursuant
to Chapter 32 of Title 27, and the receiver appointed under that order believes that the controlling
producer or any other person has not...
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27-7-38
Section 27-7-38 Privileged information. (a) Any communications, complaint, evidence, testimony,
document, deposition, affidavit, statement, or other proof filed, given, or proffered at the
hearing provided for in Section 27-7-37 shall be absolutely privileged to the same extent
as in a court of law and shall never form the subject matter of any action, claim, or proceeding
against the person filing, giving, or proffering the same nor against the principal or representative
of such person. (b) Reports of investigation, copies thereof, and information furnished the
commissioner by any insurer, agent, solicitor, broker, managing general agent, or service
representative and any other person shall be absolutely privileged communications, and no
such report, copy, information or document, affidavit, statement, deposition, or testimony
so furnished to the commissioner shall ever form the subject matter of any action, claim,
or proceeding against any such person. (Acts 1957, No. 530, p. 726,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-38.htm - 1K - Match Info - Similar pages
27-7-30.1
Section 27-7-30.1 Appointment of producer - Notification of termination. (a) Within 15 days
after making the notification required by subsection (e) of Section 27-7-30, the insurer shall
mail a copy of the notification to the producer at his or her last known address. If the producer
is terminated for cause for any of the reasons listed in Section 27-7-19, the insurer shall
provide a copy of the notification to the producer at his or her last known address by certified
mail, return receipt requested, postage prepaid or by overnight delivery using a nationally
recognized carrier. (b) Within 30 days after the producer has received the original or additional
notification, the producer may file written comments concerning the substance of the notification
with the commissioner. The producer shall, by the same means, simultaneously send a copy of
the comments to the reporting insurer, and the comments shall become a part of the commissioner's
file and accompany every copy of a report...
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27-7-4.4
Section 27-7-4.4 Fingerprints. (a) In order to make a determination of insurance producer license
eligibility, the commissioner is authorized to require fingerprints of initial resident applicants
for an insurance producer license and to submit the fingerprints and the fee required to perform
the criminal history record checks to the Alabama Department of Public Safety and the Federal
Bureau of Investigation (FBI) for state and national criminal history record checks. (b) The
commissioner shall require a criminal history record check on each initial resident applicant
for insurance producer license in accordance with this section. The commissioner shall require
each applicant to submit a full set of fingerprints, including a scanned file from a hard
copy fingerprint, in order for the commissioner to obtain and receive national criminal history
records from the FBI Criminal Justice Information Services Division. (c) The commissioner
may contract for the collection, transmission, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-4.4.htm - 3K - Match Info - Similar pages
27-29-6.1
Section 27-29-6.1 Registered insurers - Supervisory colleges. (a) With respect to any insurer
registered under Section 27-29-4, and in accordance with subsection (c), the commissioner
shall also have the power to participate in a supervisory college for any domestic insurer
that is part of an insurance holding company system with international operations in order
to determine compliance by the insurer with this title. The powers of the commissioner with
respect to supervisory colleges include, but are not limited to, the following: (1) Initiating
the establishment of a supervisory college. (2) Clarifying the membership and participation
of other supervisors in the supervisory college. (3) Clarifying the functions of the supervisory
college and the role of other regulators, including the establishment of a group-wide supervisor.
(4) Coordinating the ongoing activities of the supervisory college, including planning meetings,
supervisory activities, and processes for information sharing....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-6.1.htm - 2K - Match Info - Similar pages
27-29A-5
Section 27-29A-5 ORSA Summary Report. (a) Upon the commissioner's request, and no more than
once each year, an insurer shall submit to the commissioner an ORSA Summary Report or any
combination of reports that together contain the information described in the ORSA Guidance
Manual, applicable to the insurer or the insurance group of which it is a member, or both.
Notwithstanding any request from the commissioner, if the insurer is a member of an insurance
group, the insurer shall submit the report or reports required by this subsection if the commissioner
is the lead state commissioner of the insurance group as determined by the procedures within
the Financial Analysis Handbook adopted by the NAIC. (b) The report or reports shall include
a signature of the insurer or insurance group's chief risk officer or other executive having
responsibility for the oversight of the insurer's enterprise risk management process attesting
to the best of his or her belief and knowledge that the insurer...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29A-5.htm - 2K - Match Info - Similar pages
27-29B-1
Section 27-29B-1 Purpose and scope. (a) The purpose of this chapter is to do all of the following:
(1) Provide the Commissioner of Insurance a summary of an insurer or insurance group's corporate
governance structure, policies, and practices to permit the commissioner to gain and maintain
an understanding of the insurer's corporate governance framework. (2) Outline the requirements
for completing a corporate governance annual disclosure with the commissioner. (3) Provide
for the confidential treatment of the corporate governance annual disclosure and related information
that will contain confidential and sensitive information related to an insurer or insurance
group's internal operations and proprietary and trade secret information which, if made public,
could potentially cause the insurer or insurance group competitive harm or disadvantage. (b)
Nothing in this chapter shall be construed to prescribe or impose corporate governance standards
and internal procedures beyond the procedures...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29B-1.htm - 1K - Match Info - Similar pages
27-42-13
Section 27-42-13 Prevention of insolvencies; examinations of insurers; reports. (a) To aid
in the detection and prevention of insurer insolvencies, it shall be the duty of the board
of directors, upon majority vote, to notify the commissioner of any information indicating
any member insurer may be insolvent or in a financial condition hazardous to the policyholders
or the public. (b) The board of directors may, upon majority vote, request that the commissioner
order an examination of any member insurer which the board in good faith believes may be in
a financial condition hazardous to the policyholders or the public. Within 30 days of the
receipt of such request, the commissioner shall begin such examination. The examination may
be conducted as a National Association of Insurance Commissioners' examination or may be conducted
by such persons as the commissioner designates. The cost of such examination shall be paid
by the association and the examination report shall be treated as are...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-42-13.htm - 2K - Match Info - Similar pages
40-29-116
Section 40-29-116 Fraudulent returns, statements, or other documents. Any person who willfully
delivers or discloses to the commissioner or his delegate any list, return, account, statement,
or other document, known by him to be fraudulent or to be false as to any material matter,
shall be fined not more than $10,000 ($50,000 in the case of a corporation), or imprisoned
not more than one year, or both. Any person required pursuant to this title to furnish any
information to the commissioner or his delegate who willfully furnishes to the commissioner
or his delegate any information known by him to the fraudulent or to be false as to any material
matter shall be fined not more than $10,000 ($50,000 in the case of a corporation), or imprisoned
not more than one year, or both. (Acts 1983, 4th Ex. Sess., No. 83-891, p. 128, ยง35.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-29-116.htm - 1K - Match Info - Similar pages
10A-8A-4.10
Section 10A-8A-4.10 Right of partner and former partner to information. Notwithstanding Sections
10A-1-3.32 and 10A-1-3.33: (a) Subject to subsection (f), a partner, without having any particular
purpose for seeking the information, may inspect and copy during regular hours at a reasonable
location specified by the partnership, required information and any other records maintained
by the partnership regarding the partnership's business or not for profit activity and financial
condition. (b) Subject to subsection (f), each partner and the partnership shall furnish to
a partner: (1) without demand, any information concerning the partnership's business or not
for profit activity reasonably required for the proper exercise of the partner's rights and
duties under the partnership agreement or this chapter; and (2) on demand, any other information
concerning the partnership's business or not for profit activity, except to the extent the
demand or the information demanded is unreasonable or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-8A-4.10.htm - 5K - Match Info - Similar pages
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