24-1-36
Section 24-1-36 Investment by state, fiduciaries, banks, etc., in bonds, etc., issued by authorities. Notwithstanding any restrictions on investments contained in any laws of this state, the state and all public officers, municipal corporations, political subdivisions other than county and public bodies, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an insurance business and all executors, administrators, guardians, trustees, and other fiduciaries may legally invest any sinking funds, moneys, or other funds belonging to them or within their control in any bonds or other obligations issued by a housing authority pursuant to this article or issued by any public housing authority or agency in the United States, when such bonds or other obligations are...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/24-1-36.htm - 2K - Match Info - Similar pages
27-31B-12
Section 27-31B-12 Legal investments. (a) An association captive insurance company, risk retention group, and an industrial insured captive insurance company insuring the risks of an industrial insured group defined in paragraph b. of subdivision (18) of Section 27-31B-2 shall comply with the investment requirements contained in this title, as applicable; provided, however, that compliance with these investment requirements shall be waived for risk retention groups to the extent that credit for risks ceded to reinsurers is allowed pursuant to Section 27-31B-13 or to the extent otherwise deemed reasonable and appropriate by the commissioner. Chapter 37 of this title shall apply to association captives, risk retention groups, and industrial insured captive insurance companies insuring the risks of industrial insured groups defined in paragraph b. of subdivision (18) of Section 27-31B-2 except to the extent it is inconsistent with approved accounting standards in use by the association...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-12.htm - 2K - Match Info - Similar pages
41-9-351
Section 41-9-351 Commission may provide for insurance for properties and employees. (a) The commission may provide insurance covering loss or damage to its properties or any properties of others in its custody, care, or control or any properties as to which it has any insurable interest caused by fire or other casualty and may likewise provide insurance for the payment of damages on account of the injury or death of persons and the loss or destruction of properties of others, and may pay the premiums out of the revenues of the commission. Nothing in this section shall be construed to authorize or permit the institution of any civil action or proceeding in any court against the commission for or on account of any matter referred to in this section. Any contracts of insurance authorized by this section may, in the discretion of the chair of the commission, provide for a direct right of action against the insurance carrier for the enforcement of any claims or causes of action. (b) The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-351.htm - 3K - Match Info - Similar pages
41-9-961
Section 41-9-961 Insurance; civil actions; liability. (a) The commission may provide insurance covering loss or damage to its properties or any properties of others in its custody, care, or control, or any properties as to which it has any insurable interest caused by fire or other casualty and may likewise provide insurance for the payment of damages on account of the injury to or death of persons and the loss of or destruction of properties of others, and may pay the premiums out of the revenues of the commission. Nothing in this section shall be construed to authorize or permit the institution of any civil action or proceeding in any court against the commission for or on account of any matter referred to in this section; provided, any contracts of insurance authorized by this section may, in the discretion of the chair of the commission, provide for a direct right of action against the insurance carrier for the enforcement of any claims or causes of action. (b) The liability under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-9-961.htm - 1K - Match Info - Similar pages
5-5A-44
has approved the acquiring party's acquisition plan. All persons with whom the acquiring party acts directly, indirectly, through, or in concert with to acquire control shall be identified in the application and shall provide all information required by the superintendent. The acquiring party shall file its application with the superintendent, and the application shall, except to the extent expressly waived by the superintendent, contain the following information: (1) The identity, personal history, business background, and experience of each person by whom or on whose behalf the acquisition is to be made, including his or her material business activities and affiliations during the past five years, and a description of any material pending legal or administrative proceedings in which he or she is a party and any criminal indictment or conviction of such person by a state or federal court. (2) A statement of the assets and liabilities of each person by whom or on whose behalf...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-44.htm - 11K - Match Info - Similar pages
25-5-293
and insurers operating in Alabama shall, at the secretary's request, provide the secretary such data as he or she deems necessary to evaluate costs and quality. The data shall be provided in the form and content to the secretary's specifications and in a manner deemed timely by the secretary. The secretary may gather from health care claims intermediaries that operate in Alabama any claims data related to diagnoses and procedures encountered in the treatment of workers'-compensation-type injury and illness in Alabama. Results from all data gathered shall be made available to employers or their representatives for use in decisions regarding the direction of care or to determine appropriateness of reimbursement. (i) Beginning immediately after May 19, 1992, and to be completed within six months thereafter, the secretary may engage an independent firm to identify the initial costs for the program. These initial expenses shall include, but not be limited to, the establishment of a data...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-293.htm - 11K - Match Info - Similar pages
33-1-25
Section 33-1-25 Port authority authorized to carry fire and casualty and public liability insurance. The Alabama State Port Authority is hereby authorized to provide insurance covering loss or damage to its properties, or any properties of others in its custody, care or control, or any properties as to which it has any insurable interest, caused by fire or other casualty; and may likewise provide insurance for the payment of damages on account of the injury to or death of persons, and the loss of or destruction of properties of others; and may pay the premiums thereon out of the revenues of the port authority. Nothing herein shall be construed to authorize or permit the institution of any civil action or proceeding in any court against the port authority for or on account of any matters referred to in this section; provided, that any contracts of insurance herein authorized may, in the discretion of the director of the port authority, provide for a direct right of action against the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-1-25.htm - 2K - 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
2-3A-2
the products of aquaculture and silvaculture) or the treating, processing, storing, manufacturing, marketing, distribution or exporting of agricultural commodities; provided, however, that such term shall not include any operation the principal purpose of which is the selling at retail of agricultural commodities or related products; provided, further, that costs of agricultural operations shall specifically include, but not be limited to, costs of acquiring and improving real and personal property, repairs, annual operating expenses, family living expenses and refinancing of debt incurred for any such costs. (3) AUTHORITY. The public corporation organized pursuant to the provisions of this article. (4) BOARD. The board of directors of the authority. (5) BONDS. Bonds, notes, certificates, bond, grant or revenue anticipation notes or any other evidence of indebtedness representing an obligation to pay money. (6) DIRECTOR. A member of the board of the authority. (7) LENDER. Any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-3A-2.htm - 2K - Match Info - Similar pages
15-13-159
Section 15-13-159 Qualifications - Professional surety company. No professional surety company shall execute or become surety on any appearance bond in this state, unless it has an order granting authorization to become professional surety on any bail. The order granting the authorization shall be reissued annually, prior to January 1 of each year, by the presiding circuit judge of the county in which the company desires to execute bail or appearance bonds. Prior to the judge's issuance of the original order and no later than December 1 of each year, thereafter, professional surety companies shall submit annually to the presiding circuit judge the following: (1) An original or certified copy of a certificate of authority or certificate of compliance from the Department of Insurance reflecting that the company is qualified to write a bail line of insurance and that the company is in good standing with the department. (2) An original qualifying power of attorney issued by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/15-13-159.htm - 5K - Match Info - Similar pages
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