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10A-8A-1.07
Section 10A-8A-1.07 Supplemental principles of law; rate of interest. (a) It is the policy
of this chapter and this state to give maximum effect to the principles of freedom of contract
and to the enforceability of partnership agreements. (b) Unless displaced by particular provisions
of this chapter, the principles of law and equity supplement this chapter. (c) If an obligation
to pay interest arises under this chapter and the rate is not specified, the rate is the applicable
federal rate as determined from time to time by the United States Treasury pursuant to 26
U.S.C. §1274(d) or any successor law. (d) The rule that statutes in derogation of the common
law are to be strictly construed shall have no application to this chapter. (e) The use of
any gender shall be applicable to all genders. The captions contained in this chapter are
for purposes of convenience only and shall not control or affect the construction of this
chapter. (f) Sections 7-9A-406 and 7-9A-408 of the Uniform...
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10A-9A-1.07
Section 10A-9A-1.07 Supplemental principles of law; rate of interest. (a) It is the policy
of this chapter and this state to give maximum effect to the principles of freedom of contract
and to the enforceability of partnership agreements. (b) Unless displaced by particular provisions
of this chapter, the principles of law and equity supplement this chapter. (c) If an obligation
to pay interest arises under this chapter and the rate is not specified, the rate is the applicable
federal rate as determined from time to time by the United States Treasury pursuant to 26
U.S.C. §1274(d) or any successor law. (d) The rule that statutes in derogation of the common
law are to be strictly construed shall have no application to this chapter. (e) The use of
any gender shall be applicable to all genders. The captions contained in this chapter are
for purposes of convenience only and shall not control or affect the construction of this
chapter. (f) Sections 7-9A-406 and 7-9A-408 of the Uniform...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-1.07.htm - 2K - 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...
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27-38-1
Section 27-38-1 Establishment of separate accounts by life insurers to provide for life insurance
or annuities and benefits incidental thereto. A life insurer organized under the laws of this
state may, by or pursuant to a resolution of its board of directors, establish one or more
separate accounts and may allocate thereto amounts, including without limitation proceeds
applied under optional modes of settlement or under dividend options, to provide for life
insurance or annuities, and benefits incidental thereto, payable in fixed or variable amounts
or both, subject to the following: (1) The income, gains, and losses, realized or unrealized,
from assets allocated to a separate account shall be credited to, or charged against, the
account, without regard to other income, gains, or losses of the insurer; (2) Except as provided
in this section, amounts allocated to any separate account, and accumulations thereon, may
be invested and reinvested without regard to any requirements or...
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27-44-5
Section 27-44-5 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACCOUNT. Either
of the three accounts created under Section 27-44-6. (2) ASSOCIATION. The Alabama Life and
Disability Insurance Guaranty Association created under Section 27-44-6. (3) AUTHORIZED ASSESSMENT
or the term AUTHORIZED when used in the context of assessments. A resolution by the board
of directors has been passed whereby an assessment will be called immediately or in the future
from member insurers for a specified amount. An assessment is authorized when the resolution
is passed. (4) BENEFIT PLAN. A specific employee, union, or association of natural persons
benefit plan. (5) CALLED ASSESSMENT or the term CALLED when used in the context of assessments.
A notice that has been issued by the association to member insurers requiring that an authorized
assessment be paid within the time frame set forth within...
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27-4A-3
Section 27-4A-3 Generally. (a) Subject to the exceptions and exemptions hereinafter set forth,
for the year beginning on January 1, 1995, and for each year thereafter, every insurer shall
pay to the commissioner a premium tax equal to the percentage, as set out in this subsection,
of the premiums received by the insurer for business done in this state, whether the same
was actually received by the insurer in this state or elsewhere: (1) PREMIUM TAX ON LIFE INSURANCE
PREMIUMS. a. Except as hereinafter provided, the rates of taxation on life insurance premiums
shall be those amounts set out in the following schedule: Year Foreign Insurers Domestic Insurers
1995 2.9 1.3 1996 2.8 1.6 1997 2.7 1.8 1998 2.5 2.1 Every Year Thereafter 2.3 2.3 b. Individual
life insurance policies in a face amount of greater than $5,000 and up to and including $25,000,
excluding group life insurance policies, shall be taxed at the rate of one percent per annum.
c. Individual life insurance policies in a face...
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41-7A-42
Section 41-7A-42 Definitions. For purposes of this article, the following terms shall have
the following meanings: (1) COMPANY. A corporation, partnership, limited liability company,
or any other business entity. (2) DEPARTMENT. The Alabama Department of Revenue. (3) ENTERTAINMENT
INDUSTRY. Those persons or entities engaged in the production of entertainment content as
defined under paragraph a. of subdivision (8). (4) EXPENDED IN ALABAMA. In the case of tangible
property, property which is acquired or leased from a source within the State of Alabama;
in the case of services, services performed for a qualified production project in the State
of Alabama. (5) OFFICE. The Alabama Film Office. (6) PAYROLL. All salary, wages, and other
compensation, including related benefits, including specifically, but not limited to, compensation
and benefits provided to resident and nonresident producers, directors, writers, actors, and
other personnel involved in qualified production projects in...
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45-37A-56.30
Section 45-37A-56.30 Operation or leasing of parking facilities. (a) As used in this section,
the word person means a natural person, a corporation, a partnership, or unincorporated association.
(b) It is hereby declared to be the public policy of this state, with respect to each parking
facility, that upon an authority's acquiring a parking facility the authority shall carefully
consider and decide, whether it is in the public interest that the authority itself operate
such facility, enter into a contract with some person to operate such facility for the authority,
or lease such facility. Among the factors the authority shall consider in making such decision
are the following: (1) The relative efficiency of the alternate operations. (2) The relative
economy of the three alternate operations. (3) The overall advantage and benefit to the authority
and the public of the alternate operations. (c) In order to make the foregoing determination
the authority shall ascertain the following: The...
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23-1-80.1
Section 23-1-80.1 County commissions - Use of county roads in conducting timber operations.
(a) A county commission, by ordinance or resolution, may require all persons or firms that
own timber in any unincorporated area of the county which plan to utilize county roads for
delivery of pulpwood, logs, poles, posts, or wood chips to any wood yard or processing plant
to provide notice of their intent to utilize the county roads to the county commission. For
purposes of this section, the term timber owner means any person or firm that has entered
into a contract with a landowner for the purposes of severing that timber and delivering pulpwood,
logs, poles, posts, or wood chips to any wood yard or processing plant. In the case where
the landowner harvests his or her own timber and delivers pulpwood, logs, poles, posts, or
wood chips to any wood yard or processing plant, the landowner is the timber owner. The term
timber owner is intended to mean the person or firm who has legal title to the...
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27-31B-3
Section 27-31B-3 Licensing. (a) Any captive insurance company, when permitted by its articles
of association, charter, or other organizational document, may apply to the commissioner for
a license to do any and all insurance defined in Sections 27-5-2, 27-5-4, and 27-5-5, in subdivisions
(1), (2), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), and (14) of subsection (a)
of Section 27-5-6, in Sections 27-5-7, 27-5-8, 27-5-9, and 27-5-10, and to grant annuity contracts
as defined in Section 27-5-3, subject, however, to all of the following: (1) No pure captive
insurance company may insure any risks other than those of its parent and affiliated companies
or controlled unaffiliated business. (2) No association captive insurance company may insure
any risks other than those of the member organizations of its association, and their affiliated
companies. (3) No industrial insured captive insurance company may insure any risks other
than those of the industrial insureds that comprise...
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