41-15-10
Section 41-15-10 Premiums and collected earnings to constitute trust fund; surplus may be invested in bonds, stocks, mutual funds, etc.; limitations and conditions; requisition for payment of losses, expenses, etc. All premiums and earnings collected under the provisions of this chapter shall constitute a trust fund to be applied as authorized in this chapter. With the approval of the Governor, any surplus in the fund over a necessary working capital, which shall be determined by the Director of Finance, at not less than $400,000.00, may be invested in the bonds or other obligations of the United States, of the State of Alabama or of any agency, institution or instrumentality of the State of Alabama. The Director of Finance shall also have the authority to invest and reinvest said state insurance trust funds in such classes of bonds, mortgages, common and preferred stocks, shares of investment companies or mutual funds or other investments as the Finance Director with the consent of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-15-10.htm - 2K - Match Info - Similar pages
2-10-56
Section 2-10-56 Contents of articles of incorporation; signing, acknowledgment and filing. Each association formed under this article shall prepare and file articles of incorporation, setting forth: the name of the association; the purposes for which it was formed; the place where its principal business will be transacted; the term for which it is to exist; the number of directors thereof, which must not be less than five and may be any number in excess thereof; the term of office of such directors; the names and addresses of the persons who are to serve as incorporating directors until their successors are elected and qualified; if organized without capital stock, whether the property rights and interest of each member shall be equal or unequal, and, if unequal, the articles shall set forth the general rule or rules applicable to all members by which the property rights and interests, respectively, of each member may and shall be determined and fixed, and the association shall have...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-10-56.htm - 2K - Match Info - Similar pages
30-6-3
Section 30-6-3 Duties of office; exemptions. (a) The director shall perform or delegate all of the following duties: (1) Operate the domestic violence program and, in collaboration with ACADV or other qualified entity, coordinate and administer statewide activities related to the prevention of domestic violence. (2) Have the right to enter and inspect the premises of domestic violence centers that are applying for an initial certification or facing potential suspension or revocation of certification to effectively evaluate the state of compliance with minimum standards. (3) Promote the involvement of domestic violence centers in the coordination, development, and planning of domestic violence programming. (4) Coordinate with state agencies that have health, education, or criminal justice responsibilities to raise awareness of domestic violence and promote consistent policy implementation, including law enforcement training. (5) Cooperate with, assist in, and participate in programs of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/30-6-3.htm - 3K - Match Info - Similar pages
27-41-6
Section 27-41-6 Limitations upon investments generally. (a) An insurer shall not have at any one time any single investment or combination of investments in or loans upon the security of the obligations, property, or securities of any one person aggregating in cost to the insurer in excess of the greater of 10 percent of such insurer's assets or the total of its capital and surplus, as shown in the latest annual report of the insurer filed pursuant to subsection (a) of Section 27-3-26 of the Alabama Insurance Code, less the minimum capital and surplus required of said insurer for authority to transact insurance by Sections 27-3-7 and 27-3-8 of the Alabama Insurance Code. The restriction of this subsection shall not apply to evidences of indebtedness issued, assumed, or guaranteed by the United States of America or any department, agency, or instrumentality thereof or by any state of the United States. (b) An insurer shall at all times invest and maintain invested funds in cash and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-6.htm - 2K - Match Info - Similar pages
34-31-24
Section 34-31-24 Only certified contractors to advertise, etc.; use of license; issuance of license. (a)(1) No individual, partnership, or corporation shall advertise, solicit, bid, obtain permit, do business, or perform the function of a certified contractor unless the person or persons in responsible charge, as defined in Section 34-31-18, are certified contractors. (2) Every contractor licensed under this chapter shall display the contractor's certification number and the company name on any and all documentation, forms of advertising, and on all service and installation vehicles used in conjunction with heating, air conditioning, and refrigeration contracting. (3) A contractor licensed under this chapter may not permit the use of his or her license by any other persons. (4) No official charged with the duty of issuing licenses to any individual, partnership, or corporation to operate a business as a certified contractor shall issue such license unless there is presented for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-31-24.htm - 4K - Match Info - Similar pages
34-8B-10
Section 34-8B-10 Examinations and testing; unauthorized use of license number. (a) To be licensed as a court reporter, an applicant shall be a United States citizen or, if not a citizen of the United States, a person who is legally present in the United States with appropriate documentation from the federal government, and shall pass the Written Knowledge Examination administered by the board, ACRA, NCRA, or NVRA, and shall pass an Alabama skills examination or provide documentation of having passed the NCRA Registered Professional Reporter Examination or NVRA CVR Examination. The board shall examine or establish, or both, examination and testing procedures to enable the board to ascertain the competency of applicants for licensure. Each such skills examination shall be given at least twice each calendar year. Applications for licensure shall be signed and sworn by the applicants and submitted on forms furnished by the board. An applicant who furnishes the board with satisfactory proof...
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27-2B-2
Section 27-2B-2 Definitions. As used in this chapter, these terms shall have the following meanings: (1) ADJUSTED RBC REPORT. An RBC report which has been adjusted by the commissioner in accordance with subsection (e) of Section 27-2B-3. (2) CORRECTIVE ORDER. An order issued by the commissioner specifying corrective actions which the commissioner has determined are required. (3) DOMESTIC INSURER. Any insurer domiciled in this state. (4) FOREIGN INSURER. Any insurer which is licensed to do business in this state but not domiciled in this state. (5) FRATERNAL BENEFIT SOCIETY. Any insurer licensed under Chapter 34. (6) HEALTH ORGANIZATION. Any health care service plan, health maintenance organization, limited health service organization, dental services corporation, or other managed care organization licensed under this title. This term does not include any life and disability insurer or property and casualty insurer. (7) INSURER. As defined in Section 27-1-2, including, without...
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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
11-81-21
Section 11-81-21 Investment of funds obligation in which sinking funds may be invested. Any municipal funds or county funds not presently needed for other purposes may be invested in any obligations in which sinking funds are now authorized to be invested, pursuant to Section 11-81-19, and in addition in any of the following: (1) Direct obligations of (including obligations issued or held in book entry form on the books of) the Department of the Treasury of the United States of America; (2) Obligations of any of the following federal agencies, which obligations represent the full faith and credit of the United States of America: a. Farmers Home Administration. b. General Services Administration. c. U. S. Maritime Administration. d. Small Business Administration. e. Government National Mortgage Association (GNMA). f. U. S. Department of Housing and Urban Development (HUD). g. Federal Housing Administration (FHA). (3) U. S. dollar denominated deposit accounts and certificates of deposit...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-81-21.htm - 6K - Match Info - Similar pages
27-5B-8
Section 27-5B-8 Certified reinsurer. (a) Credit shall be allowed when the reinsurance is ceded to an assuming insurer that is certified by the commissioner as a reinsurer in this state and secures its obligations in accordance with the requirements of this section. In order to be eligible for certification, the assuming insurer shall meet all of the following requirements: (1) The assuming insurer must be domiciled and licensed to transact insurance or reinsurance in a qualified jurisdiction, as determined by the commissioner pursuant to subsection (c). (2) The assuming insurer must maintain minimum capital and surplus, or its equivalent, in an amount to be determined by the commissioner pursuant to regulation. (3) The assuming insurer must maintain financial strength ratings from two or more rating agencies deemed acceptable by the commissioner pursuant to regulation. (4) The assuming insurer must agree to submit to the jurisdiction of this state, appoint the commissioner as its agent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5B-8.htm - 9K - Match Info - Similar pages
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